Freight rates return to pre-virus levels

By Hulya Omur Uylas

ANKARA (AA) - Global freight rates fell back to pre-coronavirus level, hitting $924 in June, according to the chairperson of the Association of International Forwarding and Logistics Service Providers (UTIKAD).

"Containers stuck in some certain places during the pandemic period have been back in operation thanks to normalization steps. Thus, freight charges returned to pre-virus levels," Aysem Ulusoy told Anadolu.

Global container shipping freight costs dove 78% from a year ago in June, Ulusoy said, citing the Shanghai Containerized Freight Index.

After having been hit hard by the coronavirus pandemic, the logistics sector struggled to meet pent-up demand during the post pandemic period, she said.

This congestion caused freight costs surge to unprecedented levels, Ulusoy stressed.