OUTLOOK Q4 and Early 2025

Going into Q4 and 2025, the main challenge remains the Red Sea crisis. If diversions persist, the global supply-demand balance will gradually improve as more new vessels enter service.

This will help stabilize the market without causing overcapacity or plummeting rates, provided demand grows at a normal pace. Reopening the Suez route or a significant drop in demand could lead to overcapacity, but these scenarios seem unlikely in the short  to medium term, per UPS.