Shipping Rates Are No Longer Plunging. Is ‘New Normal’ Near?

Ocean shipping spot rate indexes are still falling. But after months of steep declines, they’re dropping much less rapidly than before. It could be just a temporary plateau before the next leg down. Or it could be something more significant: the first sign of the market bottom, the post-pandemic “new normal.”

Different spot rate indexes publish different numbers, and critics contend that indexes don’t reflect actual rates. But the consensus is that indexes are a good indicator of the general direction of pricing. And the direction spot indexes are headed lately is more sideways than down.

Read more in an article from American Shipper.