Freight rates to continue uphill climb into 2022

Singapore

FREIGHT rates will likely continue their upward trajectory into traditional peak sales periods and even when shipping rates "normalise", they are unlikely to be at the rates seen in 2019.

"Those were very low levels, where container liners were not making economic profits," said Steve Saxon, McKinsey's partner leading the Travel, Logistics & Infrastructure Practice in China. "A reasonable planning assumption is that rates stabilise at levels maybe 50 per cent higher than in 2019 but still well down from the peak."