China’s foreing trade for the first half of the year has increased 6.1% indicating positive momentum in their economy.

Spot rates ex China for the remainder of July are competitive.

Rate Restorations (RR) ex Asia have been withdrawn or delayed until 1st August, but the shipping lines are looking to be aggressive with RR’s from then.

Port congestion in Singapore is easing.

1.6 million TEU’s of new build container ships have hit the water in the first half of 2024, but buying and selling of used tonnage is very strong.