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Shipping Woes Ease As Rates Drop To Pre-Pandemic Levels ...Middle East
Via Metal Miner Buyers who depend on imports for semi-finished materials or finished components will undoubtedly cheer the recent fall in freight rates. Indeed, global logistics costs peaked in late 2022. Now, buyers will soon see relief from the historic highs of the COVID-induced ocean freight-feeding frenzy. Indeed, few will shed a tear to learn that many shipping lines continue to contend with container spot rates that are below cost. They may even view them as “payback” for the massive profits made in the preceding three years.…
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