Maersk Sees Rise in Freight Rates Tapering Off in 2021

Maersk CEO Soren Skou said ocean freight rates have probably plateaued and will return to normal levels next year as the world’s largest container liner benefits from global trade that’s recovered much faster than expected.

“Global supply chains had quite a lot of bottlenecks and they have driven up prices,” he said in a Bloomberg Television interview on Wednesday, describing the whiplash effect of a steep decline in seaborne cargo in the second quarter followed by a sharp rebound.