There is a growing consensus that container shipping has bottomed out with many indicators on the way back up after nine months of decline.

Splash reported eight days ago on how multiple analysts including from banks HSBC and Jefferies had called the bottom of the market. In the intervening days, charter rates have firmed further, enquiries for secondhand tonnage remain strong, while Drewry’s composite World Container Index (WCI) increased yesterday by 4% to $1,773.58 per feu – the first increase in 15 weeks.