Container spot rates from China to Europe and the US tanked again this week, leading to heavy discounting by carriers and prompting some to offer significant mid-term reductions to contract rates.
Ahead of the Chinese Golden Week holiday, the Ningbo Containerized Freight Index (NCFI) weekly market commentary reported that vessel export load utilisation levels were “poor”, and that “the decline in freight rates was difficult to stop”.
Drewry’s World container Index (WCI) …
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