The Shanghai Containerized Freight Index (SCFI) took a 2% tumble to settle at US$1,031.42, its lowest-ever quote since July 2020, settling just a tad higher than the three-year historical low of US$1,022 recorded in January 2020.
While there is a talk of normalisation on the cards, with rates nearing the pre-pandemic levels, the advent of the Chinese New Year will most likely see the index hitting the pre-pandemic mark as the demand scenario is negative with inbound volume into the US recording...
https://container-news.com/scfi-crumbles-to-30-month-low-nears-pre-pandemic-levels/