I think we're seeing the same dynamic around wider demand after emergence from COVID, just that China is 12+ months behind. So you're absolutely correct.Not to China it isn't - scarce as hen's teeth
But demand between SIN & Australia, SE Asia, Japan, and North America, and even some European ports seems to be coming off the boil, at least anecdotally. And awards between SIN & India (for those interested in going there), have been "off the boil" now for some months.