Over Capacity in most freight routes
What a difference a year makes. At then end of 2007 we were complaining over the difficulty in getting space on vessels. Now we have no problems. Even with shipping lines mothballing containerships there is still plenty of capacity and as a result freight rates have fallen considerably, this includes the once sky high fuel bunker surcharges. The bunker surcharges have followed the collapse in the oil price over the previous six months. This all means lower freight rates for our customers. It is just a shame that the economy in Europe and the US has gone in the same direction as oil prices. IE down!