February 15, 2021 – Contract rates as measured by the 23-year-old China (Export) Containerized Freight Index (CCFI) have risen faster than ever recorded putting containerlines on course to register improved profits this year, even over 2020’s stellar performance. However, latest data shows many shippers are balking at signing lengthy contracts now, willing to wait till the market cools. Many shippers are adopting a wait-and-see approach, keen to see rates level off before signing anything. Many large shippers have postponed their global RFQs or have walked away from the negotiation table after the first round. Canaan Transport continues to assist customers in their 2021 strategies for their freight bookings as changes continue to happen on a daily basis.