The global container shipping capacity has been strained due to the Red Sea/Suez Canal situation and a restocking cycle in the U.S. and Europe with strong purchasing of Chinese goods. On May 17, the Shanghai Export Containerized Freight Index (SCFI) rose to 2520.76 points, a 9.3% increase from the previous week and more than a 130% increase since the Red Sea crisis in December, points out the Shanghai Shipping Exchange.
Costamare: Red Sea Challenges Equal Tailwinds Not Priced Into The Stock, Buy seekingalpha.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from seekingalpha.com Daily Mail and Mail on Sunday newspapers.
Mediterranean Shipping Undercurrents: Maersk Resumes Red Sea Transit Amid Tensions btimesonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from btimesonline.com Daily Mail and Mail on Sunday newspapers.
SMM estimates that China imported 41,000 mt of copper semis in February, up 78.3% month-on-month and 13.1% year-on-year. The imports are estimated to total 64,000 mt from January to February, down 19% year-on-year.