Shipping rates could drop in the short term

Shipping rates could drop in the short term

The global macroeconomic situation is reducing demand for maritime transport and is therefore expected to put downward pressure on rates in the short term. 

Looking ahead to the upcoming 2022-2023 export season and in line with the international shipping context, exporters expect shipping rates to remain at competitive levels so that fruits can be shipped to their destination markets, thus meeting their international commitments.

“The global macroeconomic situation is reducing demand for maritime transport and, therefore, it is estimated that sooner or later it will put downward pressure on rates. In this sense, we trust that these will remain at competitive levels for fruit exporters, so that they can meet their international commitments and maintain our country's reputation as a food power,” commented the president of Asoex, Iván Marambio. 

Specialised logistics and trade media, in fact, indicate that demand for container shipping is declining both in Europe and in the United States as a result of the inflationary spiral and the uncertainties generated by the current international political and economic context. In addition, it is suggested that the fleet of inactive or “on standby” container ships is at its highest level since the second quarter of 2020. 

“Shipping companies are our partners in the export process and we are working in an aligned manner. We are confident that, together, we will be able to adequately face the logistical challenges of the sector. In fact, we are already working on a plan with 12 measures proposed to the government that include actions to improve the management and operation of port terminals during the high season,” Marambio emphasized. Along those lines, he added that “There is no basis to justify maintaining high prices.”

For his part, the president of Fedefruta, Jorge Valenzuela, commented that “According to calculations by the National Agricultural Society, fruit growers paid more than US$14.635 million extra in maritime transport last year due to the increase in costs, so we are confident that the situation can be reversed this season, as we cannot continue to aggravate the logistics crisis.”

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