Pacific box rates plumb new lows
TRANSPACIFIC freight rates continue to weaken, with the spot market hitting new lows at a time of year when lines should be preparing for the peak season.
Drewry Shipping Consultants, which depicts an exceptionally bleak future for the liner shipping industry in its latest market review, estimates that average rates for Hong Kong to Los Angeles cargo fell to just US$900 per 40 ft loaded container over...
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