I could give a perspective to start. I want to make this gloomy Friday afternoon a little lighter.
As I look out my window to our container terminal, I note that I haven't seen this many containers in Regina in the last two years. Equipment supply is loosening and our steamship line rates for the periods of November, December and January are declining quite rapidly.
We are seeing a global slowdown related to inflation, and the slowdown in global demand is starting to show its benefits. I'm a believer that by mid-2023 we will be getting back closer to the rates we saw in the period of 2019-20.