Soaring shipping rates that have battered seafood companies since the start of the COVID-19 pandemic may finally be starting to level out, according to an executive overseeing shipping giant Maerk's seafood division, but Russia's invasion of Ukraine has added a new layer of complexity.

Thue Barfod, the global head of leading container shipping firm Maersk Line's fish and seafood cargo division, said at IntraFish's first-ever digital event on shipping and logistics last month that "we have peaked more or less," though the event occurred prior Russia's invasion on Feb.