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The Containerized Freight Index has more than doubled since the beginning of October 2023, from 850 to 2,179 points. It increased 419 points or 24% since the beginning of 2024 alone.
The Red Sea crisis has caused "immediate capacity constraints and a temporary increase in rates," CEO Vincent Clerc.
The Panama Canal drought causes severe shipping delays from Asia to the U.S. East Coast, particularly for heavy goods. Carriers are rerouting from trans-Pacific to trans-Atlantic via the Suez Canal,
As global trade is facing challenges, it is crucial for Shanghai to establish a strategic direction for the construction of a global shipping center, focusing on improving both hard and soft power.
Shanghai International Energy Exchange (INE) on Thursday