The Howe Robinson Container Index (HRCI) rose by 29.4 points or 3% in the period under review, increasing from 850.6 points in week 8 to 880 points in week 10. Big changes were registered across the board, with two negative developments, namely in the 1,000 and 2,500 teu categories, which fell by 3 and 1% respectively. The market was characterised by concerns about falling freight rates and rising oil prices, with the surge in oil costs cutting many liner companies' profit expectations. Ocean freight rates out of China to Europe and the US were down by as much as one third in comparison with last summer. Slot utilisation rates were down to 80% on Asia-Europe routes, and from Shanghai to North America they came in as low as 70%.
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