FBX Index: Looking forward
As we moved through December and look forward towards 2021, market outlooks and FFA sentiment continues to fluctuate. Largely linked to consistent gains in spot prices, the majority of the front haul routes have seen a substantial upwards correction. FBX 01 China/ East Asia to North America West Coast saw gains throughout the 2021 periods with the full calendar year 2021 (Cal 21) now sitting at a relative high of $3,400 indicatively. Whilst the spot price for Trans-Pacific front haul rates has been flat, with much of the price fluctuation due to heavy surcharging of existing FAK rates, the focus has been the impact on a standard industry cycle and market bearish sentiment post Chinese New Year.