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Gemini Cooperation, the Maersk-Hapag alliance that goes operational on Feb 1, will be phasing in via Cape of Good Hope

Freight rates from Shanghai to Genoa zoomed 21% to $4,399/FEU and from Shanghai to Rotterdam surged 16% to $3,954/FEU.

IACI is a volume-weighted index of spot container freight rates on 18 large intra-Asia trade lanes.

"Suez Canal diversions will inflate shipping costs for as long as the situation lasts but trade always finds a way"

Index has increased by 44% compared with the same week last year, and is the highest since October 2022

Poor numbers confirm that U.S. importers continue to cut back on imports from Asia & run down inventories: Drewry

The World Container Index, however, remains 74% higher than a year ago.