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Shipping trade port

World trade edging up as freight rates sink

9th April 2024

After a historically weak 2023, there are early signs of a modest turnaround in world goods trade which we expect to endure. Meanwhile, global container shipping costs have halved – and those for commodity freight more than halved – from recent peaks, confirming that they pose no meaningful threat to inflation.

Alongside this publication, we have updated our Shipping Disruption: Macro & Market Impact dashboard, which we recently extended to include a tab of charts on the Baltimore Bridge collision and port closure. 

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