China COSCO Holdings Co. Ltd. , a unit of the country's top shipping conglomerate, expects a months-long recovery in container freight rates to continue for now, with container shipping demand staying strong next year, as Reuters reports.Freight rates hit bottom in February and began recovering in June, Chairman Wei Jiafu told a shipping forum on Thursday in the southern Chinese city of Shenzhen.
Market demand and supply were now balanced, and the slide in rates earlier this year was mostly psychological, he added.