Chinese Shipping Costs Spike on Red Sea Crisis, Robust Demand

The Shanghai Containerized Freight Index, which tracks changes in spot rates from the port city to destinations such as Europe, gained some 19% in the past two weeks

May 15, 2024

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Freight rates for Chinese container exports spiked over the past two weeks, driven by increased demand overseas and the intensifying crisis in the Red Sea, with Yemen’s Houthis announcing last week they attacked three more ships.

The Shanghai Containerized Freight Index, which reflects changes in spot freight rates from the port city to export destinations such as Europe,

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