Container spot rates drop 43% in Q3, worst development in non-COVID year
LONDON : “The Shanghai Containerized Freight Index (SCFI) fell another 10% in week 39. In total, the SCFI has dropped 43% during the third quarter, the largest Q3 drop in a year not affected
Futures show more downside to freight rates in 2025
SHANGHAI : Shanghai container futures trades suggest that Asia-Europe freight rates could fall further in 2025, after appearing to have peaked now. On 5 August, the index points of the EC2408 (August contract) closed
Pause in Transpacific rate surge
SHANGHAI : Transpacific freight rates have corrected after rising for more than three months, as capacity additions have begun making an impact. When the Shanghai Containerised Freight Index (SCFI) closed on 12 July, the Shanghai-US West
Container spot rates expected to rise in June again
LONDON : Fears over a shortage of capacity have continued to push up container freight rates over the past week, hitting levels only previously seen during the pandemic. Drewry’s World Container Index (WCI) was
Supply chain disruptions and rising demand boost container freight rates globally
NEW YORK : Shares of major container shipping firms soared on Monday, fueled by the climbing freight rates. Notably, the Shanghai Container Freight Index, a key indicator of shipping rates from major Chinese ports,
Red Sea crisis pushes container shipping spot rates to highest level in over a year
LONDON : Attacks on ships in the Red Sea continue to push ocean freight rates higher, triggering warnings of inflation and delayed goods. To avoid strikes by Iran-backed Houthi militants based in Yemen, carriers
HMM Q1 profits plunge 91%
SEOUL : HMM reported a first quarter profit for 2023 of KRW285bn ($212m) a drop of 91% compared to the same period in 2022. Revenues for Q1 2023 were KRW2.08trn some 58% lower than the first
Container spot rates on a ‘likely recovery path’: HSBC
LONDON : Spot container freight rates have stabilised and HSBC Global Research notes sign of a recovery in its latest report. n its Global Freight Monitor HSBC noted with surprise that the Shanghai Containerized