Long-term ocean freight rates slid once again in August, marking the 12th consecutive month of declines for beleaguered carriers.
According to the latest real-time data from the Xeneta Shipping Index (XSI®), contracted rates fell 7.8% in August, meaning prices have now dropped 62.7% since this time last year.
The world’s busiest routes – exports from the Far East – have endured the most dramatic declines, with Xeneta’s regional sub-index showing a 75% year-on-year fall in the value of valid...
https://www.marineinsight.com/shipping-news/long-term-ocean-freight-rates-plunge-by-over-60/