There are a lot of ships sailing around China these days.
As I've discussed several times over the past weeks, Chinese shipping indices have gone ballistic.
The China Containerized Freight Index measures shipping costs for exporting goods from ten major Chinese ports to 11 regions worldwide. And those costs have been rising lately. Up 17% since January 15.
The trend shows no signs of reversing. Last week the index jumped 3.9%. Led by a 7.1% leap in shipping traffic from China to the U.S. West Coast, and an 8.6% jump in shipments to Korea.
The jump in the index means...
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