News / End of capacity crunch sees spot freight rates continue to tumble

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The capacity shortage that underpinned skyrocketing ocean freight rates for the past two years has ended and rates will continue to fall, according to Vespucci Maritime CEO Lars Jensen.

“The available data shows that the fundamental support for very high freight rates has now fully disappeared and further weakening is to be anticipated,” he said.

The analyst added: “Even though small bumps in the road, in the form of a sudden short demand spike or unexpected bottlenecks, could cause temporary upward rate movements, ...