The Shanghai Containerized Freight Index (SCFI) lost a cumulative 2.8% this week as container spot rates on the transpacific and Asia-South America trades went into retreat.
The SCFI’s comprehensive index is 7.2% below the level of a year ago, despite bunker costs currently at around 40% higher, evidencing the gung-ho strategy of ocean carriers which have opted for a market share grab rather than obtain sufficient compensation for the steadily rising …

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Source: The Loadstar