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BDRY - Global Shipping Market Deteriorates Further
Breakwave Dry Bulk Shipping
Freight rates have soared since the beginning of the year. Port congestion has increased and container availability has decreased. Shipping line shutouts have become a common feature.
Rising COVID infections are resulting in increased congestion at China’s top two container ports, Shanghai and Ningbo.
This month, containers in the U.K. have been delayed at the port for up to two weeks before they could be delivered to their destination due to an acute shortage of road haulage drivers.