The container charter and freight markets are showing further weakening, with shipowners forced to settle for lower rates and carriers opting to cancel sailings.

The lull in the charter market has enabled France’s CMA CGM to secure a brace of feeders at knock-down rates.

The move comes as 2M partners Maersk and Mediterranean Shipping Co (MSC) said they would cancel or “blank” a number of sailings scheduled for next month.