24/06/2023
After one year the container freight market has severely changed as shown in the chart. The index denotes some 82% reduction in the global container freight levels, however after a 4 months streak of decreasing, the market is now facing a decent rise by 8% between March and April. Still not enough to give carriers a sort of serenity, but this plateau at least shows a stoppage of the 2022 collapse, suggesting a potential bottom.
Almost all trades seem to be rebounding in terms of freight level, in addition to a global economy on the upswing and a recovering export, these factors could give respite to the container market for the moment.
Data source: Freightos Baltic Container Index