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Global Freight Rates Plunge, Report Finds

Average global freight rates have fallen to a 15-month low, according to Drewry’s new online Container Freight Rate Insight. Drewry’s Global Freight Rate Index fell 12% in April to reach its lowest level since February 2012, when container shipping was still recovering from the last ocean carrier price war. The Index, which is a weighted average of freight rates across the 600 trade routes covered by Drewry’s Container Freight Rate Insight…