Container rate rally has more legs than bears assume

AI Summary

Container spot rates have surged sharply since February, with shipping market indicators showing a strong rally. Forwarders and carriers report improved earnings and high container timecharter rates, contrary to bearish expectations.

Container spot rates have done exactly what they did in 2021, and the market has drawn exactly the conclusion you’d expect: this is a repeat performance of a one-off, and it will end the same way. The SCFI is up roughly 150% since late February and 11% since the mid-June truce alone, container timecharter rates are near cycle highs, and forwarders and carriers alike are reporting sharply improved earnings. The ... The post Container rate rally has more legs than bears assume appeared first on The Loadstar.