Ocean Freight Market update – December 2021

High level market development

1) Real GDP, Copyright © IHS Markit, Q2 2021 Update 1 Jun ‘21, Venezuela is excluded from aggregates due to hyperinflation. All rights reserved;

2) DHL Global Trade Barometer Dec19, index value represents weighted average of current growth and upcoming two months of trade, a value at 50 is considered neutral, expanding above 50, and shrinking below 50;

3) Drewry, in USD/40ft container, including BAF & THC both ends, 42 individual routes, excluding intra-Asia routes;

4) Shanghai Shipping Exchange, in USD/20ft ctnr & USD/40ft ctnr for US routes, including BAF, EBAF, CAF, PSS, WRS, PCS & SCS/SCF/PTF/PCC, excl. THC, 15 routes from Shanghai; 5

Major trades – Market outlook December 2021 month-on-month development

Economic outlook & demand evolution – Global economic growth and inflation will slow in 2022