Welcome to the first market commentary by Lars Jensen, leading expert in container shipping industry, exclusively for users of Freightonomics, a community by Freightify for freight pricing professionals. The intention is to provide a series of analytical commentaries linking the global market developments to the developments seen specifically by the users of Freightify.
Impact of Red Sea Crisis:
Everyone in container shipping has seen the headlines. The Red Sea crisis has caused freight rates to skyrocket. Shippers are struggling to keep up with the plethora of new surcharges. Carriers have managed to reverse a situation of low rates and overcapacity to a situation of tight capacity and a reversal to more than profitable freight rates.
And the headline from this is indeed correct.
But what is important to realize is that even though the above is a correct assessment of the situation related to the Red Sea and as a consequence some of the most pivotal trade lanes in the world, it is not true everywhere.
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