Platinum times for shipping companies!

Some people say it’s silver or golden times for the shipping companies, but actually it’s platinum times for the shipping companies. Turnover and margins have not been as high as just before the credit crisis in 2008/2009.

Freight rates have gone through the roof due to the increase in ordered goods and also due to the precarious and unstable situation of the supply chain. In addition, the Corona pandemic also plays a major role. Fewer services were provided and more goods ordered during this period.

Many people have been able to make little or no use of services such as restaurants, bars, cafes, pedicures, hair salons, massage salons, etc. for several longer periods (Corona wave 1, 2 and 3) during the last 1.5 years. As a result, many people/families decided to order a lot of goods online, for example to refurbish their house and/or country house or to make it even more beautiful. Many goods were also ordered to make the home situation more fun and cozy, such as atmosphere products, but also board games and the like.

There was a shortage of space on the ships and the availability of sea containers, causing freight rates and container prices to explode in a relatively short time. This situation has been going on for a little over a year now and it is expected that this will continue for at least 6 to 9 months.