OK, maybe not “crater”, but forgive me, I’m practicing my clickbait exercises for the week.
OTOH, transoceanic costs have fallen in half, sometimes more, occasionally approaching pre-pandemic prices. Here are some charts with the global average as well as spot rates for various routes:
Of course we musn’t let that go on too long, lest the 10x profits of the last two years be eviscerated completely, eh?
For the time being, carriers are canceling voyages and sending obsolete ships to scrap to keep prices from bottoming out completely. In early January, container spot freight rates rose for first time in 43 weeks,
