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Long-term contracted ocean freights fell for the second consecutive month, and are now 1.3 percent down year-on-year, as the ramifications of coronavirus continue to shake the foundations of the global economy.
According to the latest XSI Public Indices report from Oslo-based Xeneta, rates fell by 1.8 percent in June, following on from a 1.2 percent decline in May.
Although levels remain historically high, the carrier segment has now seen a 0.2 percent decline since the beginning of 2020, after four consecutive months of increases through to February.
Furthermore, notes Xeneta, future economic indicators are far from promising.
