Container volumes are tipped to pick up slightly but there is no sign of a return to pre-pandemic norms in the shipping industry - one index that tracks shipping in 12 key routes out of China has been in freefall for 12 months.
Freight costs for consumer goods are tipped to remain muted and possibly fall this year, with tepid demand keeping a lid on the number of containers shipped around the globe.
Declining volumes helped cool prices, and it appears those trends will persist through 2023. The Freight Trade Alliance cites spot prices for freight out of China to Australia as a key indicator.“Freight rates globally have come down considerably since the peak of the pandemic when high demand and congestion at major international ports caused major disruption,” said FTA director Paul Zalai.
UNCTAD has called for stronger transport infrastructure, improved connectivity, expanded warehouses and fewer shortages of labour and equipment to improve operations and minimise the impact of shocks, such as the COVID-19 pandemic.The UNCTAD 2022 review of Maritime Transport noted that freight and charter rates were still above pre-COVID-19 levels and rates remained high for oil and natural gas tanker cargo because of the energy crisis.
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