Conflicting signals abound in a market looking for fresh directions, with
freight rates continuing to slide as the SCFI dropped by 4.7% last week bringing
the cumulative decline to 15.8% since its January peak. However, charter rates
continue to firm while second hand vessel prices are still rising as demand for
tonnage remains high. The recent freight rate correction has not deterred new
entrants, with another Chinese carrier set to launch a transpacific service in
March.
Total containership