Long-standing trends of sinking freight rates have appeared to run their course, particularly in the realm of ocean carriers. These once dwindling rates have seemingly hit their lowest and are now beginning to catch an upward current. This uptick is especially notable in several lanes, including those bridging the US with Asia and Europe, Fastmarkets reports.
Various factors contribute to this change in tide. Key among them are sale rates that have been dipping below operating cash costs, paired with a surge of demand in certain regions.These conditions have coalesced into a perfect storm, propelling freight prices on an upward trajectory, as echoed in The Loadstar. Have you noticed rate increases in your industry yet?