What is the exact meaning of the following passage? It is from a political telegram with a special shortened style from 1953.
"Daily charter situation has weakened substantially with single voyage rates quoted as low as 40 percent below US Maritime Commission rates for foreign flag vessels. This compares with 100 percent to 200 percent premiums 12 or 18 months ago. Charters over 1 or 2 years are about 15 percent below USMC which compares with the 50 percent premium fixed few months ago. Construction proceeding at level which gives little indication of anything other than easy supply situation for future."