The SCFIS finally caught up with the recent spot rate hikes, rising by 11.8% on
14 November after 2 weeks of lackluster gains, reflecting the backward looking
nature of the index that captures actual settled rates. The cumulative gain of
14.6% logged by the SCFIS in the last 4 weeks has lagged behind the SCFI’s 30.3%
rise in the same period.
However, the positive rate momentum is shifting with MSC slashing their rates to
$3,700-3,800 per feu until the end of November, undercutting rivals’ rates