Ocean freight rates softened substantially in Q2 and are expected to decline further in Q3 and Q4 of 2022 as global demand drops.
Inflation and increasing interest rates provide significant headwinds for overall demand for goods around the world leading to declining rates, but congestion and resulting capacity constraints continue to put pressure on costs and support a relatively high rate floor.
Ti’s Q3 2022 Ocean Freight Rate Tracker provides transparency on current sea freight rates, capacity, congestion and container availability by trade lane, and maps out expected rate development for each quarter and out to 2023.
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