SINGAPORE—Global port congestion is set to continue until at least early 2023 and keep spot freight rates elevated, logistics executives said on Wednesday, urging charterers to switch to long-term contracts to manage shipping costs. Ship delivery times have lengthened amid the COVID-19 pandemic since 2020, pushing up freight costs, while the Russia-Ukraine conflict and lockdowns…
Global Port Congestion, High Shipping Rates to Last Into 2023: Executives
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