Freight rates to stay high in 2022, panelists at IFA say
Published: Friday, 19 November 2021
Freight rates, which have spiked in 2021 and impacted steel and ferro-alloy markets, are likely to remain high in 2022 due to an imbalance of demand and availability of ships and containers, panelists said during Fastmarkets’ International Ferro-alloys Conference this week in Prague.
"Freight rates have increased from three to four times this
year compared to previous normal levels, mainly due to the
Covid-19-related slowdown at ports leading to congestion delay,
and we had to change the geography of our export sales in
response to this," said Ravi Singh, chief executive officer