Average container freight rates for Chinese exports have dropped 28% since the start of the year, posting the worst first quarter development of the past twenty years,” says Niels Rasmussen, Chief Shipping Analyst at BIMCO.
Based on input from twenty-three liner operators, the China Containerized Freight Index (CCFI) reflects the general export freight rate level from ten major ports.
The 28% fall reduced the CCFI from 1,548 at the beginning of the year to 1,112 at the end of the first quarter,...
https://container-news.com/container-rates-plunge-28-worst-first-quarter-in-two-decades/