Freight Rates Fall

Shipping rates have fallen around the world as freight from China reduces at a time of year when we are more used to seeing full ships and having difficulties in booking space leading up to the Winter markets. A combination of slightly lower exports out of China (and 'slight' in this huge economy can mean many container spaces) together with reduced European trade with Russia result in a sharp fall in traffic volume and lower revenue to various Shipping Lines and Port Authorities. The Shanghai Containerized Freight Index (SCFI) for routes to north European ports recently crashed by 23pc in five trading days.
All of which can spell opportunities for buyers who should benefit from lower rates and easier bookings. Perhaps even less likelihood of freight being 'bumped' and delayed - or is that too much wishful thinking?

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