Global Sea Freight Rates Decline Again, and Competition on the West Coast of the United States Route Intensifies
In recent years, the global shipping market has undergone significant changes, characterized by freight rate fluctuations, overcapacity, and adjustments in competitive dynamics. The latest data shows that the SCFI index continues to decline, with freight rates on the US West Coast route plummeting, and shipping companies facing intense competition. Meanwhile, seasonal order growth may drive a rebound in freight rates in the future, creating market uncertainty.