Container Rate Collapse Deepens as New Capacity Enters the Market
There is no relief in sight for container shipowners, as the container rates sank to a two-year low according to Xeneta’s Shipping Index, down 9.5% since June 2022; down nearly 58% from the same period in 2022. With trade patterns changing and a glut of new tonnage coming into the market in 2023/24, the downturn could continue for a long time. Emily Stausbøll, Market Analyst, Xeneta discusses the current market drivers with Maritime Reporter TV.
