Price war as carriers compete for cargo driving down container spot rates

Container spot freight rates on the major east-west liner trades experienced another week of decline, as slack demand continued to depress pricing.
The Drewry’s World Container Index’s (WCI) composite global rate showed a week-on-week decline of 10%, to $2,795 per 40ft, dragging overall rates down to a level last seen in April last year, shortly before an early pea…

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