Ocean freight market outlook: increased demand 2024

A gradual return of spending and inventory replenishment could lead to increased demand in 2024. Ocean carriers will continue to manage capacity influx in order to increase rate levels away from loss making territory. Various events will continue to create supply chain disruptions e.g. Panama Canal drought, disruption in the Middle East, war in Ukraine etc. The schedule reliability continues to be low and be problematic due to the management of capacity and unforeseen events. ETS and other environmental regulations being implemented which leads to increased cost and continue to require focus.