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The off-contract spot rate to ship a 40-foot (12.19-meter) container on the busy trade route from China to the U.S. West Coast jumped 75% to $2,604 between Jan. 1 and Nov. 1 that year, Xeneta said.
So, marginal increases in demand can push the index higher quickly, and marginal demand decreases can cause the index to fall rapidly. e.g. "if you have 100 ships competing for 99 cargoes, rates go down, whereas if you've 99 ships competing for 100 cargoes, rates go up.
The Freightos International Freight Index was first launched as a weekly freight index in early 2017. [7] The Freightos Baltic Index has been in wide use since 2018. [8] It is currently the only freight rate index that is issued daily, and is also the only IOSCO-compliant freight index that is currently regulated by the EU (in particular, the European Securities and Markets Authority).
Law and crime Based upon information from the General Directorate for Internal Security, French authorities arrest five men and one woman suspected of planning an attack on French President Emmanuel Macron. Police report the suspects are radical far right citizens. (Reuters) 2017 New York City Subway bombing A jury in the Manhattan Federal Court finds Akayed Ullah guilty of a pipe bomb attack ...
Yahoo Finance's Dani Romero joins the Live show to discuss the decline of ocean freight rates amid the easing of supply chain pressures.
Shipping rates have fallen sharply this year as the pandemic-induced scramble for shipping and the resulting spike in costs has peaked, according to experts. Shipping rates plunge as experts say ...