About this document
May 2024 Ocean Freight Market Update by tungpm05 is a document available to read on EtoBox.
The May 2024 Ocean Freight Market Update indicates a positive economic outlook with a 9.6% annual fleet growth rate, although geopolitical risks could impact this momentum. Demand for ocean freight has increased by 9.3% year-over-year, with significant rate hikes announced by carriers due to rising demand and equipment challenges. Schedule reliability has improved to 54.6%, while global freight rates are expected to continue rising into May 2024.
- Author
- tungpm05
- Language
- EN