The Drewry’s World Container Index finally shot green in its first-ever quote for 2023, ending at US$2,135, recording an appreciation of 0.7%, after having trodden the red territory since February 2022.
The index was primarily fuelled by the China-Rotterdam trade lane rates which appreciated by 10%, after having breached the pre-pandemic levels on the downside. The Shanghai-Genoa rates are supported with an upside of 2%. While rates on the other trade lanes were subdued, the transatlantic trade witnessed rates inching downwards by 6% on the Rotterdam- New York route.
The Global Supply Chain Pressure Index (GCSPI) has bounced off its September lows to record 1.20 for November 2022, impacted primarily by Chinese Delivery times. The relaxation in Zero-Covid policy in China could be a fillip towards shifting action on trade.
Source: Container News