US-China trade rates spike as transatlantic rates drop
A string of General Rate Increases (GRI) starting in March-April hasn't helped the container spot rates. The Shanghai Composite Index which had a momentary upside to US$1,028 slipped back to,979 even as its longer-term counterpart in the Chinese Containerized Freight Index (CCFI) fell further to 921, lurking at a three-year low, equivalent to June 2020 levels.
The Contract Market
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