2021 has been the most volatile year for shipping in the past 50 years. By the middle of 2022, the sky-high freight rates have finally softened, approaching the level of the same period last year.
The Shanghai Containerized Freight Index (SCFI) on June 24 was showing signs of falling from a high level. The index is still at an all-time high of 4,216.13 points; before the pandemic, the index was mainly below 1,000 points.
The pandemic has brought special opportunities for shipping – the larger the problem in the supply chain, the bigger the need for ocean freight.