- Trade Panic: China To US Weekly Spot Rates For 40′ Containers Collapse
by Tyler Durden, https://www.zerohedge.com/
A continued slowdown in the rate at which weekly spot rates for 40′ shipping containers are being shipped from China to North America suggests US demand for Chinese goods continues to stumble, and signals a broader economic slowdown globally looms.
The Freightos Baltic Index (FBX) represents ocean freight prices for 40′ shipping containers, is published weekly on Sundays and represents the price of the previous week (Sunday through Saturday). Prices used in the index are rolling short term freight spot tariffs between carriers, freight forwarders, and high-volume shippers. Index values are calculated by taking the median price for all prices on active lanes with weighting by the shipper.