Container volumes have recovered, but they are moving through different ports and different routes than they did four years ago.
Shorter chains, more financing
Nearshoring does not remove complexity; it relocates it. Every additional node in a supply chain is another inventory position to finance, and we are seeing receivables programmes extended to suppliers two and three tiers down.
Where we are active
Port infrastructure, cold chain, and the warehouses behind them. Freight operators with contracted capacity are finding lenders receptive; those trading spot volume are not.