High freight rates with strong demand seen continuing

High freight rates with strong demand seen continuing

With the current strong demand for space and limited capacity likely to extend into next year along with high prices, cargo owners are being urged to book early for this year’s ocean and air freight peak seasons. The early start of the sea freight peak season and its likely extension through 2021, and possibly up to the Lunar New Year in 2022, means the chance of current market rates softening significantly are slender, particularly as disruption in any region creates more congestion and delays, pressuring prices as shippers try to secure scarcer slots, reports said.

The current market rates are expected to remain firm this year in ocean and air freight, with demand expected to continue to exceed the currently available constrained capacity in both modes, the reports added.

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Source - eximin.net