Container spot rates are falling fast on all export routes from China in what should normally be the peak season for demand.
According to today’s reading of the Ningbo Containerized Freight Index (NCFI), all 21 of the routes it covers were trending in the red.
Alongside headlines of another tranche of record eye-watering quarterly profits posted by ocean carriers last week, there was a general acceptance from the lines that the supply/demand scales were shifting back in favour of the shipper. Both short-term prices and long-term contract rates were experiencing downward pressure.
Read more in an article from gCaptain.