Global container freight rates have shown a tenth consecutive weekly rise, with the Drewry composite index up 4% to $5318 per 40 ft box, marking a year-over-year increase of 256% and reaching the highest level since September 2022. Gains have been observed on all major China to EU and US routes, particularly to Rotterdam. Additionally, the shipping sector in Europe has experienced a strong session, with tankers flat to up 3%, dry bulk rising 2-4%, VLGCs up 1%, containers up 2% ($MAERSK flat), and car carriers up 1%. Notable stock movements include $BELCO up 4%, $HSHP up 3%, $MPCC up 3%, and $DIS.MI up 2.5%. Red Sea diversions continue to push container spot rates to levels not seen since the pandemic surge.
Red Sea diversions continue to push container spot rates to levels not seen since the pandemic surge. How high will they go? https://t.co/IkQIDPh6p0
Another strong shipping session in Europe. Top VIE-covered movers: $BELCO +4% $HSHP +3% $MPCC +3% $DIS.MI +2.5% Strong week for shipping equities! Learn more: https://t.co/oBE09i5WTI
Shipping rates up again this week https://t.co/nmmOpdXDyO
Another strong Shipping Session for Thirsty Thursday in Europe: - Tankers: Flat to +3% - Dry Bulk +2-4% - VLGCs +1% - Containers +2% ($MAERSK flat) - Car Carriers +1% $AGAS $BWLPG $GCC $WAWI $OET $HAFNI $FRO $TRMD $DIS.MI $GOGL $CADLR $CLCO https://t.co/MApK3b8pFJ
Global #container #freight rates shows a tenth weekly rise, albeit at a slowing pace, with the Drewry composite up 4% to $5318 pr 40 ft box, a YoY increase of 256% and the highest level since Sept 2022. Gains seen on all the major China to EU and US routes, not least to Rotterdam https://t.co/qdCxEATA92