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At Maersk, average ocean freight rates increased 5 9 % ( 4 9 % adjusted for bunker prices ) between 2 0 2 0 and
At Maersk, average ocean freight rates increased adjusted for bunker prices between and This was caused by renewing long run contracts and higher shortterm freight rates due to higher demand combined with bottlenecks and congestions. How will this impact opportunity costs you calculated above? Does this have an impact on trade? Explain.
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