XENETA Shipping Index (XSI) has revealed a concerning trend as global long-term shipping rates hit a two-year low in July, reports New York’s Marine Link. Rates fell 9.5 per cent since June and an alarming 57.8 per cent since the same period in 2022. The situation for carriers is further worsened by the surge in new ship deliveries in June, which reached a record high with over 300,000 TEU of capacity from 40 new ships added to the market. In the first half of 2023 alone, 990,000 TEU was...
https://www.seanews.com.tr/container-rate-collapse-deepens-as-new-capacity-enters-market/198001/