Demand and Index Growing
In the week ending Dec.31, as the approach of Chinese New Year, domestic exporters reinforce export shipment, and boosts transport demand increase remarkably. Simultaneously, box liners carry out freight rate increase plan in many ocean-going services, with spot rate jumping. On Dec.31, China (export) Containerized Freight Index (CCFI) issued by Shanghai Shipping Exchange (SSE) quote 723.26 points, almost in line with that last week; while Shanghai (export) Containerized Freight Index (CCFI) issued by SSE quotes 836.96 points, jumping by 71.3% from one week ago.
In the Europe service, economy in Euro zone has some improvement. As the coming of traditional shipment rush, cargo volume keeps growing. As a result, demand/supply condition improves remarkably, and the average slot utilization rate mounts to be above 95%, with some even full-loaded. Most box liners push out another round of freight rate increase plan, and some even growing by more than USD800 per TEU. On Dec.31, fright rate in the Shanghai to Europe service (covering seaborne surcharges) quote USD1232 per TEU, surging by 115% comparing with that last week. In the Mediterranean service, cargo volume grows, but slower than that in the Europe service. Benefited by the temporary capacity ceasing plan, demand/supply condition has some improvement, and the average slot utilization rate amounts to be around 95%, with spot rate rising largely. On Dec.31, freight rate in the Shanghai to Mediterranean service (covering seaborne surcharges) quote USD1257 per TEU, growing by 146.5% from one week ago.
In the North America service, U.S. economy keeps on the stable improvement. Since from the late half of December, box liners in the USWC and USEC services carry on temporary capacity limit measures to improve demand/supply condition, and the average slot utilization rate rises to be above 95%, with some even full-loaded. Spot rate rebounds largely. On Dec.31, freight rate in the services from Shanghai to USWC and USEC (covering seaborne surcharges) quote USD1518/FEU and USD2555/FEU, growing by 98.2% and 76.5% from one week ago respectively.
Cargo volume has some improvement in the Persian Gulf service, where the average slot utilization rate recovers to be above 90%, with some even approaching 95%. Most box liners start to push up freight rate. On Dec.31, freight rate in the Shanghai to Persian Gulf service (covering seaborne surcharges) quote USD580 per TEU, jumping by 98% from last week.
In the South America service, transport demand rebounds slightly. Some box liners keep on controlling capacity to improve the demand/supply condition, and the average slot utilization rate standing around 80%. Owing to spot rate slides largely, many box liners try to improve freight rate by the chance of that in the main services increase. On Dec.31, freight rate in the Shanghai to South America service (covering seaborne surcharge) quote USD381/TEU, surging by 147.4% from one week ago.
Cargo volume keeps declining in the Japan service, where the average slot utilization rate falls to be around 50%. On Dec.31, freight index in the China-Japan service quotes 618.93 points, down by 1.5% from one week ago.