The Shanghai Containerized Freight Index (SCFI) issued after Chinese New Year 2023 saw the index fall into the triple digits, closing at US$995 for the week ending 10 February 2023.
This was a level last annexed in January 2020, the opening days of the pandemic phase. However, that wasn’t a first. These levels were seen in 2012, 2015 and 2017, indicating that the spot rates at least have now hit pre-pandemic levels.
The manufacturing struggle in China is still imminent as the latest figures for...
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