Simmering tensions between top container lines and the Shanghai Shipping Exchange over unprecedented price volatility in the box trades have burst into the open, with the two sides differing over the cause of huge swings in freight rates seen from week to week. SSE president Zhang Ye responded to claims that the Shanghai Containerised Freight Index published each Friday was contributing to unstable market conditions. The SCFI was a reflection of the market and "is not adding fuel to the volatility of rates", Mr Zhang told Cl in direct reply to observations about the index from some container Lines.
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