If I had to guess why I would say it is likely a combination of things.
Containerized freight rate indexes are dropping like a rock so I would expect future container rates below $2,000 or even less.
China's manufacturing numbers have been lagging - so orders slowing down apparently.
The Baltic Dry index has been dropping since May so less raw materials are being shipped.
Countries continue to push up the interest rates so that does not bode well for any increase in comsumption. Consumers will be cutting back to the bare necessities.
I don't see many issues in the near future that bode well for either the production or shipping of manufactured goods.
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