Tuesday, August 4, 2015

Shanghai Containerized Freight Index Plunges to New Low.......ANOTHER PESKY FACT!

Shanghai Containerized Freight Index Plunges to New Low

One of the indicators that show that things are not all that rosy in China, or in the global economy, is the price carriers charge to ship containers from China to its big trading partners around the globe. Those prices have totally collapsed.

The rates for shipping containers from China to the rest of the world have been in trouble since February. "Trouble" is a euphemism. They have relentlessly plunged on a weekly basis with only some very brief upticks in between. The trend since February has been a pure rout. And for last week, the SCFI plunged 7.4% to a new record low.

China-Shanghai-Containerized-Freight-index-2015-07-24

China-Containerized-Freight-Index-2015-07-24

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