22 Aug Surplus containers: Is this the beginning of the end of the shipping industry’s bull run?
Synopsis
Container shipping rates are on a decline and transit times are improving. Finally, for companies that have been bearing the brunt of sky-high shipping rates, the shore seems to be in sight. But for container lines sitting on billions of dollars of profits, the reversal of fortunes has surely begun.
Since late 2020, ocean carriers have been cruising ahead in full steam, propelled by a dramatic rise in freight rates. For the container shipping industry, which had been bleeding losses for long, it has been nothing short of a windfall as supply-chain congestions at ports across the world have helped them rake in billions of dollars in profits. But this bull run could be nearing an end if early signs of a trend reversal are anything to go by.
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