Since the start of the Covid-19 pandemic, international freight rates have increased strongly despite a fall in volumes. The latest economic indicators suggest that the market could gradually return to normal in 2021.
Events in 2020 have given a striking demonstration of the essential role played by the supply chain. They have also highlighted the fragility and volatility which characterise the industry. In both the air freight and container shipping sectors, freight rates have stayed at high levels as capacity has remained in short supply.
To better follow market developments, Upply launched this International Transport Barometer in October 2020 with the aim of throwing light on the movement of sea and air freight rates in our data base and highlighting the different factors influencing them and causing them to fluctuate.
This second edition picks out the major trends which marked the fourth quarter of 2020 and those emerging in 2021.
- Record prices on container shipping market
- Capacity in short supply on air freight market
- An asymmetric but resilient economy
- Oil market stabilised by coordinated production cuts.