Ocean capacity is rising, demand is cooling, and ‘the market is starting to turn’

Container spot freight rates on the main east-west ocean trades showed their first decline since the end of April – a first sign that the market is emerging from the peak season, at least in terms of pricing. This week’s World Container Index (WCI) from Drewry saw Shanghai-Rotterdam drop 1%, to $4,873 per 40ft, while on the Shanghai-Genoa, the week-on-week decline was slightly steeper, at 3%, to e Read full article →