The bigger they come, the harder they fall. The shipping boom in the trans-Atlantic market was one of the world’s biggest, and spot rates in this trade have not only plummeted from COVID-era highs, they’ve sunk below pre-pandemic levels.
“It is probably the deepest and fastest decline I have seen in my history [in the business],” said Thorsten Meincke, head of ocean and air freight at German freight forwarder DB Schenker, during an online panel discussion Tuesday.
According to Peter Sand, chief...
https://www.freightwaves.com/news/trans-atlantic-shipping-suffers-major-meltdown-as-spot-rates-crash