September 18th, 2022
Container spot rates have continued to decline, with the Shanghai Containerized Freight Index (SCFI) losing another 9.74% just this week.
A steepening downward trend in spot rates is being observed across many of the world’s major trade lanes. This is likely to continue over the next 6 months, with intermittent periods of volatility adding increased complexity to the already disrupted task of calculating transportation costs. This is a mixed bag for shippers: welcome relief with rates, but the potential for blank sailings and other reliability-affecting factors to feature more strongly.
Increasing the frequency of communications with your supply chain managers, partners and providers will help reduce costs, and avoid costly delays. Factor weather into the equation too! It’s typhoon season, and a number of large weather systems have already caused delays in China, South Korea and Japan.
Never a dull moment in Supply chain!
Further commentary: India Shipping News
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