Plunging Global Shipping Rates KO Wall Street’s Rebound Hopium

Freightos 40 ft. Global Shipping Container Rate started to trough in 1H19. The narrative back then was the global/US economy would rebound in 4Q19 and soar in 2020. But with 61 days left in 4Q, macroeconomic headwinds continue to mount across the world as global container rates plunge to new lows on the year, suggesting a global/US economic revival is nowhere to be found.