FBX index may: looking forward.

The Asia outbound market had seen a decline throughout April, largely driven by the shutdown of several sections of China following COVID outbreaks and strict anti-COVID measures. Anecdotally at least, output has dropped between 40-80 percent with China manufacturing output dropping to its lowest level in two years (official PMI). Whilst this decline has been fairly progressive on the Asia-Europe and Asia-Mediterrenean routes, movements on the Asia-US West Coast and East Coast indexes have been characteristically violent. FBX01 China/East Asia to North...