By Editor Banibrata Datta (FTFMI)
, C.
Freight rates reached five times their pre-pandemic levels by early 2022 before drastically decreasing after mid-2022.
This volatility can be attributed to a surge in consumer spending – especially for goods ordered online – combined with supply chain disruptions and logistics constraints.
To avoid new escalations in shipping costs, the maritime transport industry needs to become more resilient to global crises.
United Nations Conference on Trade and Development’s Review of Maritime Transport 2022 provides clear recommendations to prepare for unpredictable freight rates in the future.
