After 10 weeks of declines, boxship markets have finally risen, with spot freight rates possibly finding their bottom.
The Shanghai Containerized Freight Index increased by 5% week over week to settle at 1,357, according to Clarksons Securities. Gains were widespread across the sub-indices.
“The reversal comes on firmer rates on the transpacific trades and relative stability on the Asia-Europe route,” Jefferies noted.
