Following years of record profits in the aftermath of the global pandemic, the container shipping industry has found itself in a precarious state.
A flood of new vessel orders – combined with plummeting cargo volumes – have extended a drop-off in global shipping rates, which on average have plunged more than 80% since their peak in late 2021.
Transatlantic container shipping rates, while trending downward, remain in a state of flux – and can vary widely depending on market conditions, fuel prices, global economic trends and more. It’s important for shippers to understand these factors to secure cost-effective transportation both today and in the long term.