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Ocean shipping rates fell last week

The Wall Street Journal 11/15/2021

The cost to move containers from Pacific nations to the U.S. fell by 26 percent last week, but that hasn’t had any effect on the number of ships waiting offshore at ports. “It could be months before the logjams ease, but if we don’t get more closures at ports, the volumes should become more manageable after Chinese New Year,” said Lars Jensen, CEO of Vespucci Maritime.

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