Shipping woes to continue well into 2022
No end in sight, the combination of factors that have led to sky-high shipping rates this year are set to continue well into 2022 (Photo: Pexels)
Extraordinary market conditions in sea freight are now expected to persist well into 2022, according to analysts. Meanwhile, long-haul air freight belly capacity is only expected to gradually return between 2022 and 2024. Of course, freight forwarders/shipping firms are the biggest winners in this scenario, with the same analysis produced by Jefferies further raising pre-tax profit (EBIT) estimates by 18 per cent on average in the sector for the 2021 full year and by 14 per cent in 2022.
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