The Shanghai Containerized Freight Index (SCFI) succumbed to a three year low, depreciating 2.3% this week to end at US$1,006, just a tad above the three digits quote.
Its counterpart on the Shanghai Shipping Exchange (SSE), the China Containerized Freight Index (CCFI) witnessed a stronger 4.4% fall for the week touching US$1,110, its lowest level since November, 2020. Surprisingly the CCFI was driven downwards more by the relatively larger dips in trade lane figures between China-Japan,...