In the last two years, shipping rates grew to record levels, as evidenced by the nearly four-fold increase in the China Containerized Freight Index.

The Covid-19 pandemic halted many of the world’s economies and reduced consumption globally. As the global economy recovers, thanks to worldwide vaccination and the easing of safety measures, the boom in demand created a sharp spike in the index, which jumped from 864 to 3’163 between August 2020 and August 2022.

The index, a key indicator of global macroeconomic growth, is in sync with major world events, such as the 2008 financial crisis and the Eurozone debt crisis. Today, the China Containerized Freight Index is going through yet another dramatic change as this year’s inflationary pressure and dropping consumption are creating a steep drop in the index.