Shipping prices are expected to keep falling

The latest figures show that sea freight rates fell sharply in the third quarter.

（1）In response to port congestion and growing consumer demands, many importers brought in large quantities of goods ahead of schedule, resulting in excess inventory, which has led to the ongoing decline in freight demand.

（2）Most routes continue to decline in freight rates, According to insiders, the decline may slow down.

（3）Currently, the backlog/congestion has ended and disappeared in many ports. A large number of new ships will be put into service from next year. The shortage of shipping space will be greatly improved.