Ocean capacity is rising, demand is cooling, and 'the market is starting to turn'
Container spot freight rates on the main east-west ocean trades showed their first decline since ...
Recently, the movement of one week’s Shanghai Containerized Freight Index (SCFI) has been a pretty reliable indicator of the following week’s World Container Index (WCI) by Drewry.
Look
Here’s the % week-on-week growth on the Asia-North Europe trade for weeks 23-26 (click to expand the table below)…
… the pattern is pretty straightforward, suggesting this week’s base case is that the WCI’s Shanghai-Rotterdam leg will show a double-digit percentage increase on last week.
(Drewry’s World Container Index is typically released weekly on Thursday.)
Meanwhile, the ...
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