Maersk's move to restrict them to its Spot product only is said to have left four million TEU looking for a new home.

One medium-size forwarder declared it was forced to adapt quickly to the new status quo after "Maersk outlined its intentions fairly clearly so we started talking to other carriers".

"But it has pushed the market. Until now most of us have searched for new business with sizeable volumes. But now, with the long-term contracts, it's quite stagnant. We won't look for new business because there isn't the capacity," said the forwarder.

"We can make smaller bookings, but not fixed long-term deals of three years," said the forwarder.

"We are cutting deals differently, with a percentage on the spot market and a percentage on fixed rates. It's all changed."

Said another executive, who moves upwards of 75,000 TEU a year: "All of the lines are restricting capacity, for sure. There isn't one that isn't, and that's how they are partially keeping the rates so high,"

"We are thankful if we get a TEU capacity per vessel' currently - however we do have fixed contracts, but all are capped. It's not like they used to be," said the executive.

"Relationships count. I would say. But the carriers are flexing their muscles."

Both forwarders said Maersk had the right to do what it liked, but questioned the wisdom of the decision.

"Time will tell if it was the right choice, but it was a brave decision. I don't think Maersk can really make a mistake though. If it doesn't get the benefits, it'll just come back to the market. I suspect it knows that people will forgive - at the right rates."