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04 December 2021 The on-line newspaper devoted to the world of transports 18:15 GMT+1

November 15, 2021

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Hookham (Global Shippers Forum): the value of sea freight will not go down

Why should - he noted - given that this year the shipping companies expect to make profits equal to over 150 billion dollars

The record level reached by the value of sea freight is temporary or long-lasting? If someone, until recently, referring to the cyclicality of maritime transport and its tariffs, stated that the exceptional increases in the prices of containerised maritime transport were of a transitional nature, today no one - not even those who set these prices - dares to hypothesize an attenuation of the price of the rentals. It has emphasized James Hookham, director of the Global Shippers Forum (GSF), the international association representing shippers and owners of the goods, intervening at a high-level meeting on maritime transport hosted last week by FIATA.

What happened in 2021 - Hookham wondered - "was an abnormal wave or a permanent increase in sea level? Almost all shipping companies - has noted - they consider that it is the latter. And why they should not - the director of the GSF himself replied - when this year they expect to make equal profits globally to over 150 billion dollars?"

Referring then to the congestion of maritime transport that shipping companies have indicated as the cause of the increase in the price of Hookham said that "without a doubt congestion Maritime will take some time to dissolve, but if - has highlighted the director of the Global Shippers Forum - the "great maritime transport crisis of 2021" proved to be precisely this, then the speed with which the sea freight will obscure the decline in demand will be an indicator crucial level of responsiveness and competitiveness of this market'.

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