I read an American article this morning that stated amongst other things:
"Global shipping giant Maersk says that freight rates peaked during the global pandemic and are now steadily declining. The shipping major warned investors that profits are going to fall in the next coming weeks .............prices are down by 73 percent compared to last year’s peak: rates are now at $2,773 per 40-foot container."
I suspect the aftermath of the global disruption to the steady flowing supply chain that's resulted in some overstocking and space issues for many companies will take some time to dissipate but, almost certainly, doesn't represent a structural issue going forward.
SDI Price at posting:
90.0¢ Sentiment: Hold Disclosure: Held
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