top of page

Global Container Shipping Rates Drop to Pre-Pandemic Levels

The Global Container Freight Index (FBX) shows that global container shipping rates have fallen sharply from their September 2021 high ($11,000), falling to $1,463 on March 17, roughly flat with pre-pandemic levels.

For Chilean frozen salmon exports, the drop in freight has eased the pressure on some merchants. Loreto Seguel, executive director of the Chilean Salmon Association, said: "The salmon farming industry has seen some moderation in the soaring prices of important inputs due to the long-term epidemic. However, the prices of key inputs, such as fish feed and fuel, remain high and are currently low. There is no sign of a significant decline."

A Chilean salmon executive (source A) told UCN that the decline in freight rates may be related to the slowdown in global container shipping demand, or it may be that there will be a batch of new cargo ships to be delivered in the next few months. "In the past two years, sea freight rates have risen too much, and we think there is still room for decline in the future. As for air freight, we have not seen a downward trend in freight rates."

According to the statistics of Alphaliner, a shipping intelligence provider, in the next period of time, a large number of new container ships will be put into use around the world. In the second half of 2023, 89 new ships will be delivered, 130 in 2024, 96 in 2025, and 315 new ships will be added in the next three years. new boat.

However, Rolf Habben Jansen, CEO of the German container shipping company Hapag-Lloyd (Hapag-Lloyd), predicts that shipping rates will rebound this year. Due to high inflation, even if ocean freight rates return to normal levels, they will be higher than pre-epidemic levels.

He also expects rates could fall further if shipping supply and demand remain in line. "The party is over. We're back to normal shipping business and now we have to go back and fight for every single container to fill our ships."

bottom of page