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Spot freight rates have been on the decline for many of the world’s shipping routes through much of the second half of 2022. As volumes declined, especially on the trans-Pacific routes, carriers reported that rates were dropping. On the Atlantic routes, where demand remained stronger, carriers were able to maintain higher rates.
“While freight rates have been dropping consistently on most trades, they have remained elevated on the trans-Atlantic due to capacity issues,” explains Alan Murphy, CEO of Sea-Intelligence. “However, this is about to change, as carriers are injecting serious amounts of capacity on the trade lane.”
Read more in an article from The Maritime Executive.