The China Containerized Freight Index (CCFI) (source: SSE) came out just now fell below its level a year ago, registering the first YoY drop since week 50 2019. This weekly published counter tracks both spot and contracted freight rates of outbound shipments from China. The recent peak of CCFI was 3,588 recorded on 11 Feb 2022. At 2,993, CCFI has fallen 17% from its peak. Container freight rates are one of the most trend sensitive price indices in all markets. Being trend sensitive means that