China’s onshore container freight futures market was closed for the Golden Week
holidays from 1 to 7 October but is poised to trade weaker when it re-opens
following the SCFIS’ 16% week-over-week drop on 7 October. The end of the USEC
port strike also removes the last remaining hope for supply to remain tight for
the remainder of the year, with a further correction in freight rates now
inevitable.
Carriers’ rate quotations remain largely unchanged over the past week at around
$3,000/FEU with in