The SCFI composite index has fallen by 59% from its peak in January 2022, but rates remain elevated against their historical averages despite the recent drops. In 2019, the composite index stood at just 811 points compared to 2,072 points currently. Rates from China to South Africa, Europe, South America and Australia in particular are all expected to come under pressure over the coming weeks as they remain well above their 2019 average. In week 38, spot rates to the US West Coast continued to