Container freight rates ended the year at record highs, with both the CCFI and SCFI rate indices reaching hitherto uncharted territories. The CCFI was up 102% at year end, and 166% on average over the full year 2021 as vessel capacity was tight throughout the year due to persistently high demand and soaring port congestion. Although the global containership fleet grew by 4.5% to reach 25.13m TEU by the end of 2021, the effective capacity shrank as a result of port congestion and longer port sta