The World Container Index (WCI) Shanghai – Rotterdam freight rate jumped 114% yesterday. The index moved from $1,276 per 40ft container on 23rd February to $2,732 on Thursday, a rise of $1,456.
The WCI is based on actual agreed freight assessments reported so is a close indication of true market rates.
The forward curve for the SCFI Shanghai to NW Europe, meanwhile, was trading on Wednesday at $1,053 for March and $1,341 for Q3.
Clarksons freight derivative broker David Barnes commented: "Shanghai-Eur offers retreated this afternoon (Thursday) on the back of a very strong return from the WCI Index - an increase of over 100% on Asia-Europe and Asia-Med.
"Should the SCFI follow suit tomorrow (Friday), there is no reason to suggest that we wont see a substantial increase there too. Those that bought nearby contracts earlier this week will see their strategy begin to bear fruit."
The WCI is based on actual agreed freight assessments reported so is a close indication of true market rates.
The forward curve for the SCFI Shanghai to NW Europe, meanwhile, was trading on Wednesday at $1,053 for March and $1,341 for Q3.
Clarksons freight derivative broker David Barnes commented: "Shanghai-Eur offers retreated this afternoon (Thursday) on the back of a very strong return from the WCI Index - an increase of over 100% on Asia-Europe and Asia-Med.
"Should the SCFI follow suit tomorrow (Friday), there is no reason to suggest that we wont see a substantial increase there too. Those that bought nearby contracts earlier this week will see their strategy begin to bear fruit."