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Maersk Sees a ‘Soft Landing’ for Soaring Ocean Freight Rates

Photographer: Patrick T. Fallon/Bloomberg

The world’s largest container shipping carrier expects a gradual decline in ocean freight rates from near record highs while it aims to boost slumping service reliability by the end of the year.

That was the message from Maersk at an investor conference Tuesday. Booming global trade has sent the cost of containers soaring and Maersk has been among the biggest beneficiaries. Those rates should return to more normal levels by 2022, the company indicated.