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BDRY - The Global Shipping Market Is Getting Worse Rather Than Better
Breakwave Dry Bulk Shipping
Shipping rates and delays have increased since the start of Q2. There are delays of up to two weeks to get space on vessels.
In China, shipping rates had eased from $10,000 per 20-foot box in Q1 to $5,000 per 20-f00t box on the European route in the spring. However, the rate is back up to $7,500 now.
Few in the industry see much chance of the tight global market easing before 2022.