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Seanergy Maritime Newsroom
Why did the European shipping route rise strongly?
Recently, the European futures prices have shown strong upward momentum. Market analysis suggests that the price support and implementation status of major airlines need to be closely monitored. Please see the details below.
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European freight rates soar and plummet! A comprehensive analysis of the logic behind the fluctuations and two key points of focus.
This week, the freight index (Europe route) experienced large fluctuations, with the European freight index 2412 contract dropping by 25.21% on October 8, approaching the limit down; rising by 13.76% on October 10; hitting the limit up on October 11, with an increase of 13.84%, closing at 2494.3 points.
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What is the reason for the sharp drop in the freight index? Logic sorting and analysis of the decline in European freight rates.
Since the opening after the National Day holiday, the freight index (European line) futures have plummeted, with the 2412 contract dropping more than 20% from the pre-holiday high of 2540.4 points, closing at 1893 points this morning.
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After nearly half a century, there is a large-scale strike at the USA docks again. How will the freight rates on the USA routes develop?
①On the early morning of October 1st local time in the usa, ILA officially announced a strike; ②The industry believes that changes in freight rates may be reflected after the holiday, but there are many uncertain factors, and it is still necessary to pay attention to the subsequent negotiations between labor and management and the situation of the supply chain.
A general strike is imminent, with port employers in the USA proposing a 50% pay raise.
The United States Maritime Alliance (USMX) has announced a nearly 50% increase in dock workers' wages in an effort to resume negotiations with the International Longshoremen's Association (ILA).
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