Container carriers are poised to turn in an incredible $300bn profit this year ‘dwarfing’ anything the industry has ever seen before.

Bottlenecks driving high freight rates are unlikely to be solved this year and set to continue into 2023, according to UK-based container analyst Simon Heaney.

Simon Heaney, senior manager of container research at Drewry. Photo: Drewry website

He said macroeconomic sentiment had tilted to the downside as the war in Ukraine and lockdowns in China could choke demand.