Looming economic uncertainty and the fallout from the war in Ukraine could upset buoyant conditions in container and tanker trades, cautions former International Chamber of Shipping (ICS) chairman Esben Poulsson.
Concordia Maritime has agreed to sell three of its product tankers which it previously explored converting to carry containers.
Average wait times for containers at Felixstowe have recovered to pre-strike levels ahead of further upcoming industrial action at the port.
Container spot rates have continued to plunge over the last week with the Shanghai Containerized Freight Index (SCFI) losing another 9.74%.
Reefer rates during the sector’s last peak season hit all-time records as a result of supply chain disruption and equipment imbalances.