The graphs for the tanker and container markets have never featured so many peaks and valleys, or so it seemed watching the opening presentation on the final day of the Connecticut Maritime Association’s Shipping 2023 event.

David Lademan, Senior Pricing Specialist, Global Container Freight Markets, S&P Global Commodity Insights began the day with an overview of the container and tanker markets during the past few years- offering a few insights into what might lie ahead, as well. The lively chart patterns underscored the realities of trades moving in different directions - with the tanker markets at relative highs, while the container market has plunged back to earth from its record peak in 2021.

The big focus in the container market is “normalisation”, with the S&P data indicating that reliability has improved-now exceeding 50%, while congestion has decreased. The presentation showed another aspect of the return to normal- with rates plummeting along with reduced import demand into the States, against the backdrop of excess inventories.

Previous：2023 is a year of acceleration for the maritime industry - ABS
Next：China's Xinxing to invest $2bn in Suez Canal plants