Container spot rates 32% up on 2019 despite weaker supply/demand balance
The Shanghai Containerized Freight Index and the China Containerized Freight Index have dropped by respectively 81% and 72% since January last year. Yet they remain higher than in 2019 despite a worsening supply/demand balance.
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Posted:
25 May 2023
BIMCO's Shipping number of the week
- Container ship contracting spree now exceeds 10 million TEU
- Product tanker contracting hits 18-year high after 17% rise y/y
- US grain exports seen rising 12%, but sailing distances could shorten
- India now depends on Russia for 40% of its crude oil imports
- Container ship fleet expands by 11%, fastest growth in 15 years
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