Global shipping costs rose dramatically during the first and second years of the SARS-CoV-2 pandemic, as the shipping industry was unable to keep up with large shifts in purchasing patterns. Global shipping costs peaked in September 2021 and have trending downward in most markets since then. In recent weeks, costs have been falling sharply; between August 26 and September 23, the Freightos Baltic Index: Global Container Freight Index fell 25%.

The value of the Freightos Baltic Index: Global Container Freight Index for December 2, 2022 will be used to resolve this question.