China Ocean Freight Index Collapses to Record Low
It reflects the unpolished and ugly reality of the shipping industry in an environment of deteriorating global trade.
For the latest reporting week, the index dropped 0.6% to 636.14, its lowest level ever. It has plunged 41% from the already low levels in February last year, and 36% since its inception in 1998 when it was set at 1,000. This chart shows the continuing collapse of containerized freight rates from China to the rest of the world:
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