News / Rocketing ocean rates predicted to decline post-Chinese New Year

Supply chain bottlenecks – largely due to the Red Sea attacks and Panama Canal restrictions –and expectations of high seasonal demand have seen ocean freight rates rise – but industry stakeholders believe they could fall after the pre-Chinese New Year rush. 

In a recent Drewry briefing, MD Philip Damas predicted that spot rates will decline after the holiday, and added that “shipping has more than enough capacity to deal with the many diversions around South Africa”. 

Vespucci Maritime CEO Lars Jensen told ...