Ocean Freight Rates Likely to Drop Further in 2023

With a huge volume of new container space to hit the international shipping arena in the next two years the downward pressure on ocean rates seems likely to continue. Rates are already down over 80% from their post-COVID peak, and while rates seem to have stabilized for the moment further declines are forecast for next year and in 2024.

Good news for importers who struggled through the record high rates seen earlier this year.

More info can be found HERE.