bingoblitzweb| The shipping sector continues to pull up Phoenix Shipping and Ningbo COSCO both have daily limits
editor 2024-05-13 15:05:47 Home 25
Transfer from: Financial Sector
this article is frombingoblitzweb: Financial Sector AI Telegraph
The shipping sector continued to rise in the afternoonbingoblitzweb, Phoenix Shipping and Ningbo Cosco both increased daily limits, with COSCO Haineng, COSCO Haikong, Ningbo Shipping, and China Merchants Steamship leading the gains. On the news front, according to data provided by data agency Freightos, container freight rates from Asia have increased by about US$1000/FEU since April. Prices for routes bound to the U.S. West Coast and Northern Europe rose to about US$4000/FEU, and freight rates for Mediterranean routes rose to about US$5000/FEU. On May 13, the main contract of the Container Shipping Index (European Line) rose by 15% during the day, and the forward contracts 2410, 2412, and 2502 all closed intraday trading limits.