50% of the congestion in ports has been resolved, says Niels Madsen, Vice President of Product and Operations, at Sea-Intelligence, the leading provider of Research & Analysis, Data Services, and Advisory Services within the global containerized supply chain industry.
Taking a quick look at the current state of the shipping sector Niels will explain key events and trends for The Logistics Point each month in our latest video series ‘Maritime in Short’.
You can watch the first look into the market below:
Spot rates on the major East-West trade routes are dropping and the expectation is they will continue to drop. The speed this is happening will be different and Niels explains more what that would mean for the sector.
The reasons behind the drop are primarily the lower demand and the resolved congestion. This will in turn affect how customers negotiate contracts and some will look at better options.
Watch ‘Maritime in Short’ with Niels Madsen from Sea-Intelligence now. Subscribe to The Logistics Point to get the latest maritime and supply chains news here.
This analysis is dated 5th October 2022