Access to capacity is turning out to be difficult on certain major maritime routes and freight rates are rising

It has been an eventful nine months in 2022 for the supply chain industry. Ocean freight rates reached unprecedented highs as supply chain disruptions continued to roil the industry. Prices are finally cooling down, but still continue to be very high and are nowhere close to the 2019 levels. Will ocean freight rates continue to soften or will it rise again? What will be the impact of a looming recession, the conflict in Europe and a new set of regulations that kicks in early next year to rein in carbon emissions from ships?