The volatility of the global economy has been especially hard for ocean carriers. Fuel prices produced record freight rates last summer. Demand evaporated in the fourth quarter, however, sending rates to all-time lows and leaving the fate of some carriers in doubt.

For importers, the lower freight rates are a mixed bag. For new orders, the lower rates mean lower costs. But because the downturn occurred so quickly, many suppliers are still struggling to shed inventories purchased during times of higher costs.

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Plunging freight rates have some ocean carriers in survival mode