It will be at least five years until shipping costs will return to anything resembling pre-pandemic levels despite a huge amount of supply set to come online in 2023
That conclusion was reached by George Griffiths, managing editor of Global Container Freight at S&P Global Commodity Insights, during this week’s PV Tech Insights webinar that focused on the convulsions in the global shipping industry.
The webinar looked at what is expected to happen to prices moving forward and what measures companies were taking to ensure supply and the backstage infrastructure necessary for on-time deliveries.
Griffiths also discussed new business models that have emerged as a response to greater shipping uncertainty and offered advice to listeners struggling to decide between locking in long-term contracts or waiting to see what happens to market prices.
The full webinar can be watched on demand below.
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