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CHINA PRESS: China Container Market Down Since CNY

CHINA PRESS
EM BulletAPACChinaEmerging Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets

China’s export container market remained low during the past week as volumes increased less than expected after Chinese New Year, Yicai reported, citing a recent Shanghai Shipping Exchange report. The Shanghai Export Container Comprehensive Freight Index reached 1436 points, marking eight weeks of consecutive decline and down 42.7% since Jan 3. Faced with tariff pressure, U.S. volumes dropped as more exporters targeted the European market, a logistics industry insider said, noting European demand may not be able to accommodate the influx.

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China’s export container market remained low during the past week as volumes increased less than expected after Chinese New Year, Yicai reported, citing a recent Shanghai Shipping Exchange report. The Shanghai Export Container Comprehensive Freight Index reached 1436 points, marking eight weeks of consecutive decline and down 42.7% since Jan 3. Faced with tariff pressure, U.S. volumes dropped as more exporters targeted the European market, a logistics industry insider said, noting European demand may not be able to accommodate the influx.