Bulk carriers’ freight rates plunge 40% in a month

China and its piles of iron ore have pressured shipping companies to cut freight rates around the globe. In the past month, rates for bulk carriers have plunged 40% — largely because China is in no rush to import more.

Survey: Carriers’ Service Rated as Poor to Average

The service provided by container shipping lines is rated as poor to average and has deteriorated in the past year, according to a survey conducted by Drewry and the European Shippers’ Council (ESC).