Shipping & Logistics

'Support for very high freight rates has now fully disappeared': Shipping costs declining as congestion eases analyst says

Freight rates should continue to fall as more container ships get freed up from ports round world, one analyst said.

Container ship freight rates hit record highs for months as boxships waited for weeks at anchor for berths at major ports such as the Port of Los Angeles, seen here, These rates should return to normal as port congestion eases worldwide, an analyst says. — Container ship freight rates hit record highs for months as boxships waited for weeks at anchor for berths at major ports such as the Port of Los Angeles, seen here, These rates should return to normal as port congestion eases worldwide, an analyst says.Photo: Port of Los Angeles

Published 5 September 2022, 07:01Updated 6 September 2022, 13:50