Analysts project 40% drop in containership rates, but little relief on congestion

The seafood industry may be in for some relief from sky-high container shipping prices in the new year, as demand eases, according to S&P Platts Global analysts.

The spot rate to deliver a 40-foot container from China to North America's west coast has more than tripled since the beginning of 2021, reaching $14,294 (€12,597) this week, according to the Freightos Baltic Index.

But Platts analysts said that astounding rate may fall by as much as 40 percent next year as demand wanes and logistical issues ease up, citing India's Conbox Logistics.