Short-term rates for container shipping between Asia, Europe and the U.S. are climbing on reduced capacity caused by the threats to cargo vessels in the Red Sea.

The container shipping industry faces a few years of headwinds as low freight rates and widening geopolitical turmoil cloud the outlook, according to Hapag-Lloyd AG CEO Rolf Habben Jansen.

Hapag-Lloyd AG, the biggest container shipping line based in Germany, said Sept. 21 it will install SpaceX’s Starlink internet service aboard the ships it owns and manages.

Flexport Inc. executives Teresa Carlson and Darcie Henry are leaving the company, both hired during the tenure of CEO Dave Clark, who unexpectedly departed on Sept. 6.

Spot rates for shipping containers jumped by the most in more than two years, a sign that a 16-month slump in ocean freight costs that helped ease the sting of goods inflation is over.

Global supply chains have returned to normal, the Federal Reserve Bank of New York said, almost three years after COVID-19 was declared a pandemic.

Supply chain activity in the U.S. picked up for the first time since March, buoyed by elevated inventories even as transportation costs slid for a sixth straight month.

The number of containerships headed for the California ports of Los Angeles and Long Beach — a traffic jam that once symbolized American consumer vigor during the pandemic — declined to the lowest level since the bottleneck started to build two years ago.

The latest reading of Flexport’s Post-COVID Indicator released Aug. 16 shows it falling for a third straight month.

The world’s biggest container lines are on course to post profits in 2022 that will top last year’s record by 73%, according to a new forecast, buoyed by logistics and labor strains that are squeezing capacity amid sustained U.S. demand for imports.