Freight rates drop, but energy crisis expected to keep commodity prices higher for longer

The crude oil prices, freight rates, and transit times have downturned significantly over the recent months, but commodity prices are still riding high due to elevated energy prices. Also, adverse weather conditions in parts of the world and increased labor costs, within transport and logistics, add to pain. markets are still characterized by inflation and volatility. The crude oil prices, freight rates and congestion rates have downturned over the recent months, but still remain on a considerably higher level than before Covid and the Russia-Ukraine war. Also, extreme drought in different parts of the world, adds to the pain, especially in the grain and electricity markets. These disruptions cause ripple effects on the commodities, but still our delivery capacity remains very strong.

This market and business update intends to give you an indication of the expected price development of the most important commodities, freight rates, supply chain challenges, the additional effects of labor shortages, and challenges in major ports.

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