Hopes that container freight rates on China export trades have bottomed out appear premature.

Prices for forward contracts point to a market that is betting on freight rates on trades to Europe having further to fall.

That is despite the first rise in container freight rates for many months.

Drewry’s composite World Container Index increased by 0.7% to $2,135 per 40-foot equivalent unit (feu) in the week to 5 January, its first rise in 43 weeks.