Sea Freight Rates to Drop Further, CMA CGM Boss Says

Sea freight rates, which over the last weeks started to decrease after reaching a high, are likely to fall further, the head of French shipping giant CMA CGM said in a newspaper interview published on Wednesday.

Asked by Le Figaro whether container rates will keep dipping, Chief Executive Rodolphe Saade replied, "This is very likely," saying that reduced consumer demand for goods amid high inflation was leading to a downward trend in international trade.

(Reporting by Tassilo Hummel; Editing by Mark Porter)