In New Zealand dollar terms, the index gained 2.7% m/m as the NZD Trade Weighted Index fell 1.0%.

As part of the report are comments from ANZ on shipping prices:

  • Global shipping prices generally softened a little through April as easing demand is offsetting ongoing restrictions in key shipping channels.
  • Slowing global economic activity has curbed demand for goods, easing pressures in the shipping industry. There has also been an increase in the number of ships sailing, which has helped offset the longer delivery routes as ships avoid the Suez Canal. Indeed, traffic through the Suez Canal is less than half what it would normally be, whilst Panama Canal numbers are back by about a third.
The trend in central banking