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By Alex Lennane
Drewry has written a rather damning article on shipping lines which have dumped capacity into the Asia ? South America east coast trade lane. The consultancy said that a rate war has already seen spot prices dropping 26% between Shanghai and Santos, to $2,810 per 40ft teu. With a 33% rise in capacity expected between April and July, Drewry says further falls can be expected.
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