Container freight rates are headed one way only, and that is up – a trend that will continue in 2022. Consequently, more upgrades are in the offing from the world's largest container carrier, Maersk, assesses an update from major bank HSBC, which also notes that spot rates have continued to rise in the third quarter, the 18th week in a row, while bottlenecks and growing consumption continue to fuel demand.
"Despite recent announcements by Hapag Lloyd and CMA CGM to halt spot freight rate increases until February 2022, we caution that due to congestion amid the peak season, freight rates could remain at elevated levels," writes HSBC, and adds that by all appearances, Maersk will land long-term contracts at considerably higher rates from next year onwards.
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