According to a report, container shipping charter rates are set for a course correction after touching historical highs in 2021 and staying elevated so far this year. These rates are likely to slide a further 30-50 per cent in 2023 on account of the expected recessionary environment in the majority of consumption economies, and the consequent fall in demand for discretionary goods. As per Crisil Research, charter rates were up 156 per cent year on year for the first seven months of this year. Over the remaining months, however, the rates are expected to decline, though still ending the year 40-70 per cent higher than before. Tankers command a major share of 57 per cent in the overall fleet of the Indian shipping industry, followed by the container segment with 22 per cent. The dry bulk segment and others account for 17 per cent and 4 per cent respectively.