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The development in demand reflects very clearly the slow growth in key areas of the world economy and the poor consumer confidence. Towards the end of 2011, rates on all trades jumped significantly – this was a complete reversal of recent fortunes, as rates jumped upwards by 13-30% week-on-week.
The shipping number of the week provides numbers with a brief analysis of relevant developments in the shipping markets.
The extraordinarily challenging conditions in the container shipping market are now clear and present to all. The overcapacity on the main trading lanes has prompted cascading to a larger extent than a normal market development would do, adding pressure on secondary routes.
The current spot price level from Shanghai to the US West coast indicates that tonnage supply is tight - Freight rates have hiked 23% in 5 weeks
The year 2021 has started in much the same way as 2020 ended for US container imports; import volumes are still surging.
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