Demand rose with spot rate Waving
As cargo owner rush for shipment before the Chinese National Holiday, China export box transport market saw demand hot and spot rate stable. On Sep.30, China (Export) Containerized Freight Index (CCFI) issued by Shanghai Shipping Exchange (SSE) quoted 741.81 points, rising by 0.8% from last week. In the spot market, despite of the high loading rate in some services, box liners had to reduce booking rate, causing spot rate tumbling slightly. On Sep.30, Shanghai (Export) Containerized Freight Index (SCFI) issued by SSE had a week-on-week decrease of 3.5% to 707.68 points.
Data from European Commission showed that main economy went better, plus the shipment rush for a short term, transport demand rose firmly in the Europe route, and the average slot utilization rate grew to be around 95%. Despite of the short supply of space, most box liners chose to sustain freight rate, and another part of box liners decreased freight rate, leading freight rate tumbling. On Sep.30, freight rate in the Shanghai-Europe route (covering seaborne surcharges) quoted USD699/TEU, tumbling by 8.5% against one week ago. In the Mediterranean route, owing to the unclear improving sign of the main economy, transport demand kept weak, and the average slot utilization rate remained around 80%, with spot rate falling depressively. On Sep.30, freight rate in the Shanghai-Mediterranean route (covering seaborne surcharges) quoted USD583/TEU, tumbling by 12.6% from last week.
Cargo volume had a nice performance because of the shipment rush in the North America route, both the average slot utilization rate in the USWC and USEC routes were nearly full-loaded, and the demand/supply condition improved. On Sep.30, freight rate in the routes from Shanghai to USWC and USEC (covering seaborne surcharges) quoted USD1686/FEU and USD2416/FEU，falling by 2.3% and 0.7% from one week ago respectively.
In the Persian Gulf route, as transport demand had no remarkable improvement, demand/supply condition was weak, and the average slot utilization rate was around 70%. Owing to cargo volume did not perform as good as expected, most box liners sustained freight rate, and spot rate kept stable. On Sep.30, freight rate in the Shanghai-Persian Gulf route (covering seaborne surcharges) quoted USD371/TEU, down by 0.8% against one week ago.
In the South America route, transport demand kept stable temporary, but owing to the fast increase of capacity, demand/supply condition had no improvement. The average slot utilization rate in this route was around 85%.as a result, competition among routes stiffened, spot rate slide continuously. On Sep.30, freight rate in the Shanghai-South America route (covering seaborne surcharges) quoted USD1427/TEU, falling by 11.5% from one week ago.
In the Japan route, transport demand had a remarkable increase during the peak season, and spot rate rose. On Sep.30, freight index in the China-Japan route quoted 651.08 points, up by 2.1% from one week ago.