New Delhi, June 30 -- Global shipping freight rates are likely to remain elevated for the next few months following the easing of restrictions on shipping through the Strait of Hormuz, as recovering trade flows and the onset of the peak shipping season drive strong demand for tankers, containers and cargo vessels, keeping vessel capacity tight, industry executives and analysts said.

Freight rates more than doubled after the outbreak of the war, as security concerns slashed vessel traffic through the Strait of Hormuz-through which about a fifth of global energy trade passes-to just 10% of pre-conflict levels.

As on 25 June, the freight rate of a 40-ft container stood at $4,166, according to the Drewry World Container Index's latest fortn...