Freight rates for container ships have dropped by 24 % after hitting a multi - year high in June this year , while ships transporting raw materials have seen rates fall by 10 % after a five - year peak . Additionally , the Baltic Dry Index , which reduces freight costs for vessels transporting iron ore , coal and metal ores , has fallen 13 % from its 1,546 high . The declining freight rates are another sign of a slowdown in global trade amid the post - China civil war , where steep trade tariffs put in place by both nations , along with increased demand in commodities , has resulted in slowing global economic growth .
Freight rates for container ships have dropped by 24% after hitting a multi-year high in June this year, while ships transporting raw materials have seen rates fall by 10% after a five-year peak. Additionally, the Baltic Dry Index, which measures freight costs for vessels transporting iron ore, coal and metal ores, has fallen 13% from its 1,546 high. The declining shipping rates are another sign of a slowdown in global trade amid the US-China trade war, where steep trade tariffs put in place by both nations, along with lessened demand in Europe, has resulted in slowing global economic growth.