For most of the summer, the headlines have been centred around the buoyant shipping markets and in particular the endless rise in container freight rates and shortage of shipping space. A development that has delighted operators but has seen cargo interests taking their case to the highest level, with the US Federal Maritime Commission opening an investigation into alleged profiteering. The root cause is less to do with lack of tonnage than a shortage of containers and congestion at ports, with large numbers of boxes unstuffed because of the pandemic. In mid-August, it was becoming clear that there is little likelihood of a return to business as usual and that was confirmed when China closed the Ningbo container port due to a new Covid-19 outbreak.
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