My job is directly tied to the shipping industry, so this sucks

Global shipping rates dropping is one of the leading indicators for recessions in case anybody is wondering how the global economy is doing.

so looking at the actual shipping container data the prices have returned to pre-pandemic levels. Prices peaked at like 7x pre-pandemic levels in 2021 and remained there through 2022, so obviously they’re making a lot less profit now. This seems to be another case of morons in the C suite thinking the gravy train would last forever.