Container freight rates will remain elevated throughout most of 2022 while the containerized logistics disruption persists

Supply chains all around the world have been disrupted to unparalleled levels, and container freight rates are at their highest. Due to the pandemic outbreak, there has been a surge in containerized consumer goods demand in the United States, causing congestion and reducing effective container logistics capacity.

Challenges caused by a North American Import demand boom

The pandemic has caused significant fluctuations in containerized goods demand, which has caused disruptions in overall containerized logistics supply globally. Majority of the countries who had imposed restrictions and shutdowns early in the pandemic, reduced overall container trade and demand.

While the demand was slowly recovering globally, in the third quarter of 2020 North America in particular, import volumes have increased by a 20% average in 2021 compared to 2019. In comparison, import volumes globally have increased by 3% in 2019 compared to 2018.