Container

McKinsey heralds bad news for shippers – normalization could be delayed until 2024

Shippers must prepare for the event that the strained container market might not normalize until 2024, shows a new analysis by McKinsey & Co. But freight rates could end up being 50 percent higher than pre-pandemic figures, consultancy tells ShippingWatch.
Maersk's terminal in Long Beach, California. | Photo: Stine Bidstrup/ERH
Maersk's terminal in Long Beach, California. | Photo: Stine Bidstrup/ERH
by DAG HOLMSTAD

Although several container shipping companies are expanding their fleets and capacity, a ”normalization” of the hot container market may be delayed until the first quarter of 2024 – and in the worst case, an improvement in conditions may not materialize until after 2024.

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