04 Dec China-Australia rates review
A more detailed examination of the Australia-China rates shows a slight recovery in spot rates in the third week of October, after several weeks of (mostly) falls.
The Shanghai Containerised Freight Index increased slightly to USD 4052/FEU, up from USD 3932/FEU in the week prior, and a high of USD 4536/FEU in the second week of September.
Conversely, Drewry’s composite World Container Index, which is dominated by east-west tradelanes, again fell last week by 4% to USD 3095/FEU.
Currently the last of the extra-loaders from N&E Asia and South East Asia are making their way through Australian ports, leaving only a couple of vessels returning southbound from China drydockings to other services.
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