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Market panic triggers sharp surge in container rates

An article published on today's Container News website has caught our attention as it reports that according to the latest analysis of the shipping consultancy Linerlytica, the market panic over tightening vessel space availability has sent the Shanghai Containerized Freight Index (SCFI) to its highest level since September 2022, rising by 18.8% after last week’s holiday break to hit a 20-month high.

That certainly makes interesting reading for the U-Freight Group with our comprehensive network of international container shipping services, including LCL and FCL import and export operations

The report indicates that unlike the surge in January, when the rate hikes were largely limited to the Red Sea-affected routes, the gains are more broad-based this time with sharp rate hikes on all long-haul routes on the back of a strong rebound in demand ahead of the summer peak season.

Linerlytica says that some carriers appear to be adding fuel to the negative rhetoric and doubts whether the effective capacity situation is as dire as those carriers suggest.

You can read the full article here:

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