XODD Summary:
Global spot rates have fallen below long term rates in April, driven by falling demand.
This falling demand is due to a number of factors, including easing of frontloading seen throughout 2024, early Lunar New Year in January and the impact of uncertainty caused by US tariffs.
This creates an extremely uncertain and volatile landscape for shippers.
Read the full report for insight on:
- Falling demand pushes spot below long term rates
- Importance of tender timing
- Mixed fortunes for Canada and Mexico
- US exporters will be hit by retaliatory tariff
- European exports down
- Intra-Asia slowdown could be sign of things to come
- Port fee proposal hits appetite for new Chinese tonnage
- US recession risk
- Manufacturing PMIs
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