Global Trade Just Snapped: Container Freight Rates Plummet 70% In 3 Weeks

cargo ship keeling

Global Trade Just Snapped: Container Freight Rates Plummet 70% In 3 Weeks:

Spot rates for transporting containers from Asia to Northern Europe have crashed a stunning 70% in the last 3 weeks alone. This almost unprecedented divergence from seasonality has only occurred at this scale once before 2008! 

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