Freight rates are expected to rebound strongly after falling for 15 consecutive weeks! Shanghai's unblocking triggers a new round of port congestion crisis in the container shipping market
The container freight rate has been falling for 15 consecutive weeks, hitting a 9-month low. However, as China gradually unblocks and resumes work and the United States accumulates a large number of empty containers, it may trigger a new round of port congestion crisis, and the freight rate is expected to rebound strongly in May. According to the latest data released by the Shanghai Stock Exchange on April 29, the Shanghai Export Containerized Freight Index (SCFI) fell 18.68 points to 3096.85 points last week, but the decline has narrowed to 0.4%, indicating that market demand is strong, and in April The decline was only 3.94%, which continued to shrink from the 8.39% decline in March. In March and April, the most bearish months of the market, the combined decline in the SCFI index was only 12.33%. In the latest SCFI index, the freight rate per FEU from the Far East to the East of the United States was US$12,900, down US$116 or 1% from the previous week. The freight rate per FEU from F...