S&p Says Ocean Freight Rates Decline On Weak Demand

Even with falling spot rates carriers, operators are holding firm on their long-term contracts.

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"Spot rates have continued to fall on a weekly basis, rapidly closing in on five-year 2015-19 averag...

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"With little sign of change ahead, this will be a challenging year for the carriers."

Carriers are scrambling for all the volumes; backhaul shippers having easier time getting their volu...

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