You may all have heard it through the grapevines, China is starting lockdowns again. Shenzhen is in complete lockdown while other cities like Shanghai and Qingdao are increasing safety measurements. Terminals at present are open but with factories closing, as reported in the media – the Hang seng takes a dive today dropping 1K points .
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Unwelcome news first in terms of rate increases and service disruptions in the far east trade - similar to previous times carriers continue to "right size" the trade and push the supply/demand ratio into one that favors them at least in the short term.
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Read MoreWith the weekend altercations, all the carriers have now re-committed to staying out of the Suez Canal and moving around the horn of Africa.
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