Persistent supply chain disruptions led to heightened demand for shipping services amid the reopening of economies last year. The industry is expected to continue to benefit from the robust demand and elevated rates as global supply chain disruptions are likely to continue until the second half of this year.
According to shipping consultancy Reveel, more than 97% of shippers will experience more than a 5.9% rate increase this year. “We probably peaked in December, but for the first quarter and probably even potentially into the second quarter, we’re really not going to see any deterioration at all in the [freight] rate environment,” Avery Vise, vice president of trucking research at FTR Transportation Intelligence said.
