The container market has appeared to have found some stability at the outset of October after dropping steadily during the prior month, Jefferies analyst Omar Nokta said.
The Freightos Baltic Index declined 28.8% from 30 August to 1,097 points on Monday, but it has lost only six points since then to come in at 1,091 points on Wednesday.
“It appears freight rates came under significant pressure going into Golden Week and the market has shown some stability, especially in light of aggressive blank sailing of late,” Nokta told TradeWinds.
