Container freight rates on East Asia-Southeast Asia routes have been weakening since March 2020, as the impact of the Covid-19 pandemic on supply chains and industrial output has materialised.
The pandemic began in late January 2020, but there was a time lag between then and the increasing lockdowns across the world.
The Shanghai Shipping Exchange showed that as of 24 April, freight rates between Shanghai and Singapore averaged US$165/TEU, a US$14 drop from the previous week. A US$16 drop was...
https://container-news.com/covid-19-hits-east-asia-southeast-asia-container-rates/