Downward Pressure on Freight Rates Seen Continuing

GENEVA — Downward pressure on freight rates for containerized cargo and other seaborne trade is forecast to continue next year, largely due to the oversupply of new vessels, a United Nations report said.

But changes in the shipping market, including lower steaming speeds, shifts in trade patterns and growing pressure to lower emissions are likely to impact decisions by companies on where to place production and source goods, concludes the report.