Are container rates rebounding or is SCFI ‘overoptimistic’?
- SCFI Shanghai-Los Angeles index jumps 23% to $2,647 per feu, although other indicators do not show an increase in spot rates
- Latest US-China trade détente boosts sentiment ahead of November 1 GRIs but cargo demand upside is expected to be muted
- Asia-Europe rates rise as carriers seek to defend spot pricing ahead of the next round of annual contract talks
The Shanghai Containerized Freight Index is showing a material rebound in transpacific spot rates. It may be incorporating gains that have yet to appear in other data sources, or it may be overshooting
