Freight rates will stay high next year – no respite for shippers, predicts Drewry
18 Oct, 2024
Some three million teu of new tonnage arriving next year will most likely be “more than offset” by further market disruption, ensuring no respite for embattled shippers, according to Drewry.
As the prospect of more US east coast port strikes remains uncertain, the maritime consultancy drew up scenarios with a strike in January and without one, and found that in both models, freight rates would continue to rise.
Port strikes “will have significant inflationary impact on spot rates, not just on the US connected trade, but also by contagion on the other trades”, said Drewry’s Philip Damas.