Analyst Pin-board Shipping line – Shipping costs might ease until 2023
- Global shipping rates have cooled down.
- Yet It Might Stand At A High Level in 2022.
- Global Shipping Costs Might Ease Until 2023. We expect domestic shipping rates to ease in 2023.
Global shipping rates have cooled down
The global shipping rates started to recover in the early months of 2022 which is backed by the tremendous growth in global trade. However, in the long run, these marine rates will likely adjust to reasonable rates thanks to (1) The global port congestion has eased, (2) Global trading has cooled down and (3) Increasing vessels supply side will lessen demand pressure.
In light of the freight rates decline trend, charter rates are forecasted to decline in the long-term after a recovery in early months in 2022.
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