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Global trade just snapped

Posted by seumasach on November 22, 2015

21st November, 2015

Container Freight Rates Plummet 70% In 3 Weeks

“This market is looking like a disaster and the rates are a reflection of that,” warns one of the world’s largest shipbrokers, but while The Baltic Dry Freight Index gets all the headlines – having collapsed to all-time record lows this week – it is the spefics below that headline that are truly terrifying. At a time of typical seasonal strength for freight and thus global trade around the world, Reuters reports that spot rates for transporting containers from Asia to Northern Europe have crashed a stunning 70% in the last 3 weeks alone.

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This entry was posted on November 22, 2015 at 10:52 am and is filed under Financial crisis. Tagged: economic collapse, financial collapse. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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