Dewry expects average global rates for Q4 to increase by 126% above those in Q3.Īs ports and terminals experience delays due to the breakdown in the supply chain, they have essentially become parking lots for ships and boxes, allowing container and shipping line companies to continue to charge fees as they wait. Those eye-popping numbers might be because container companies like Maersk are taking advantage of strong demand in ports, and raising freight prices to new highs. “Stronger-than-expected spot rate movement in the third quarter and a longer supply chain recovery timeline are behind our reason to upgrade the outlook for average global freight rates - spot and contract - for 2021.” “To seasoned observers of the container market, typing these numbers on a page is frankly surreal” Drewry wrote in its Container Insight Weekly analysis on the industry. And even though 2021 has been a banner year, Drewry expects the industry to make even more in 2022. In 2020, the industry brought in $25.4 billion, according to The Journal of Commerce. In 2021, the industry is forecast to make $150 billion. Container shipping pre-tax profit for 20 could be as high as $300 billion, according to Drewry, an independent maritime research consultancy.
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