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Forget all the talk about a global economic slowdown. We are experiencing a Godotrecession-one that we’re forever waiting on to show up. In fact, the flow of goods traded around the globe is showing signs of accelerating after a brief slump in 2023. This is pushing up shipping rates, and giving supply-chain managers flashbacks to the spike in shipping rates that occurred during the COVID-19 pandemic. The month-long advance in seaborne freight rates stems from a number of problems. These include: Houthi attacks on shipping in the Red Sea, port congestion in Asia, drought in Panama, possible lab…

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