Spot freight rates expected to continue climbing into 2023 due to port congestion
All around the globe, port congestion riddled the supply chain with stressors. Starting with the Covid-19 outbreak, furloughing workers, and restricting access and trade, the ports have dealt with issues surrounding an excess of freight passing through their waters.
Particularly in the United States and China, ports have struggled to manage the flow, and spot freight rates have risen regardless of vessel capacities increasing.
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