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Freight Prices Could Rise Further In Near Term

CHINA PRESS
MNI (Singapore)
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Freight prices could further rise in the short term as the peak season in the international shipping market is ahead of schedule, Shanghai Securities News reported citing Ju Weihao, researcher at Gainsense Futures. The ongoing geopolitical conflicts make the resumption of sailing in the Red Sea area elusive, leading to a capacity gap of about 20% in the European line in Q2. Meanwhile, the replenishment cycle in Europe and the U.S. started earlier than expected amid strong Eurozone PMI. High freight rates may not be sustainable, as the transportation shortage may ease when the peak season ends, alongside rising supply of shipping capacity following the delivery of new ship orders, Ju was cited as saying.

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Freight prices could further rise in the short term as the peak season in the international shipping market is ahead of schedule, Shanghai Securities News reported citing Ju Weihao, researcher at Gainsense Futures. The ongoing geopolitical conflicts make the resumption of sailing in the Red Sea area elusive, leading to a capacity gap of about 20% in the European line in Q2. Meanwhile, the replenishment cycle in Europe and the U.S. started earlier than expected amid strong Eurozone PMI. High freight rates may not be sustainable, as the transportation shortage may ease when the peak season ends, alongside rising supply of shipping capacity following the delivery of new ship orders, Ju was cited as saying.