Summary
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The Shanghai Containerized Freight Index jumped to 2,572 points, up 34.55% month-on-month, as carriers pushed aggressive July General Rate Increases. COSCO filed a July 1 Transpacific GRI of US$2,400 per TEU and US$3,000 per FEU, while the Suez Canal Authority's 12% container surcharge took effect July 15, forcing more Cape of Good Hope diversions.