The Howe Robinson Container Index (HRCI) rose by a modest 1%, from 721.7 points in week 36 to 731.9 points in week 38. Once again rates hardly moved. The only bright spot: after a 3% decrease in rates two weeks ago, the 1,100 teu category jumped by 12%. The rates for 2,800 and 3,500 teu units increased moderately by 5% andrn6%, respectively. The Christmas trade, which brings flows of goods from Asia to Europe and the USA, has been poorer than expected. The general feeling in the industry is that volumes will shrink, ships may have to be laid up again and slow steaming will remain a common practice for some time.
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