FreightWaves SONAR: Have Sky-High Ocean Rates Finally Peaked?
Written by Greg Miller, Senior Editor, FreightWavesOcean container rates remain exceptionally high but may have finally hit their ceiling. Spot rates have not only stopped rising, they’ve pulled back by single digits. Is this a new plateau or the start of a longer-term reversal as liner alliances bring more capacity back online?
![“Thanks to Secretary Pete [Buttigieg], USDOT, the Federal Railroad Administration and all our partners for making the S-Line passenger rail a reality!!” NCDOT Secretary Joey Hopkins said in a July 1 LinkedIn post. “Thanks to the hard work of our NCDOT team we broke ground on the first construction project in the Raleigh to Wake Forest segment, a $19M project to grade separate Durant Road 7 months after the grant announcement!!” (Photograph Courtesy of Joey Hopkins)](https://www.railwayage.com/wp-content/uploads/2024/07/slinelead-315x168.png)