Global east-west container rates remained largely insulated this week as the ongoing post-Lunar New Year demand lull temporarily masked the severe logistical shockwaves emanating from the Middle East.
Oil prices ended a volatile Wednesday session largely unchanged, as the severe physical supply threat of a paralyzed Strait of Hormuz collided with reports of preliminary peace negotiations between Washington and Tehran.
Analysts noted that while the index is seasonally adjusted for the nine-day Lunar New Year holiday, widespread temporary factory closures likely still weighed on the headline figure.