The US freight rates have increased 28% year over year but reduced by nearly 2% month over month in July 2022, a probable signal that indicates that the US market has hit its peak freight rates, per the July Cass Freight report, just when the peak shipping season involving the back-to-school phase and the holiday season kick-off.
Tim Denoyer, the author of the Cass Index Report and senior analyst at ACT Research, told CNBC that the peak season is expected to have more free capacity and that it...