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Container rate surge slows as Chinese New Year approaches

According to a report on the Seatrade Maritime News website, container rate levels are seeing the expected levelling out prior to Chinese New Year as the initial shock of the Red Sea crisis wanes and new vessels are deployed to meet the challenge of maintaining weekly services.

The article states that according to Linerlytica the rate escalation has “peaked” and carriers are now looking beyond the Chinese New Year order elevation to the post-festival slack, following a 126% increase in the Shanghai Containerized Freight Index (SCFI) since the end of November 2023.

With a comprehensive network of international container shipping services, including LCL and FCL import and export operations, this makes interesting reading for the U-Freight Group and we will continue to monitor the situation to provide you with the latest news.

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