Ocean freight market: rates decline as factories being post Lunar New Year holidays

Ocean rates continue to decline as factories are starting post Lunar New Year holidays. Worsening port congestion in Europe straining capacity tied up. This could disrupt schedules of the ships returning to Asia in next 2 months, which could reduce the capacity available in April. Long-term global container trade is expected to grow +3.6% on average per annum from 2024 […]