Reported 9 months ago
Yu Tai International (7716), a freight handling company, held a shareholders' meeting on June 28, 2024. The Chairman, Liu Fang, mentioned that with the release of holiday goods from Europe and the US, along with the trade and tariff wars, the demand for transport on routes between China and Southeast Asia has increased. Freight rates on busy routes like Shanghai to Vietnam have doubled compared to last year, supporting a rising trend as vessels face tight capacity in the third quarter. However, uncertainties remain in the fourth quarter due to various factors like geopolitical issues, climate change, and the potential impact of new ships being deployed to Asian routes from Europe and the US.
Source: YAHOO