Ocean freight's rising tide yet to ebb as operators steer capacity

Demand rising as markets recover, but slashed supply not returning as quickly; rate surge expected to plateau

Tay Peck Gek

Tay Peck Gek

Published Sun, Dec 13, 2020 · 09:50 PM

    Singapore

    THE current bull market for spot ocean freight is likely to ease in 2021, but rates are unlikely to collapse because ship operators have mastered capacity management skills, said analysts covering the industry.

    Spot rates for the various trade lanes have spiked since mid-year, driven by sharp increases in demand for consumer goods as people worked from home amid pandemic-induced lockdowns.