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Shipping Demand To Suffer After Wave of New Lockdowns

Freight rates are about to face renewed downward pressure, on the back of a new wave of lockdowns around the world, with Europe being the most obvious example. Shipbrokers anticipate a new blow on demand for shipping, which will inevitably translate to lower freight rates moving forward.

In its latest weekly report, shipbroker Allied Shipbroking said that “it has been a difficult and troublesome year so far for the global markets and the economy. Since the onset of the pandemic fundamentals across the board have been set on a sharp tail spin, with most markets and trades receiving a strong initial shock at the end of the second quarter of the year and since then have been suffering from the numerous “aftershocks” that have been coming in. Having entered now the final quarter of the year, it seems that the difficulties being faced are far from over.

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