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CCFI Commentary Issue 45, 2016

  Freight Rates Performed Differently

  In the week ending Dec.2, as the end of traditional peak season in the ocean-going routes, China export box transport market saw demand slip and demand/supply condition stable. Freight rates went on different trends. On Dec.2, Shanghai (Export) Containerized Freight Index (SCFI) issued by Shanghai Shipping Exchange (SSE) quoted 79.98 points, up by 1.6% against one week ago.

  In the Europe route, the rising consumption encouraged transport demand. As the near end of traditional peak season, cargo volume still had a nice performance, and demand/supply condition was stable. The average slot utilization rate remained around 95%, and box liners pushed up freight rate. On Dec.2, freight rate in the Shanghai-Europe route (covering seaborne surcharges) quoted USD930/TEU, surging by 20% against one week ago. In the Mediterranean route saw cargo volume stable, demand/supply condition improved, and the average slot utilization rate above 90%. Following with that in the Europe route, spot rate in the Mediterranean route grew. On Dec.2, freight rate in the Shanghai-Mediterranean route (covering seaborne surcharges) had a week-on-week increase of 19.3% to USD865/TEU.

  Data from U.S. Commercial Department showed that increasing income inspired consumer demand. Despite the end of traditional hot season, transport demand still sustained at the relatively higher level, demand/supply condition kept stable. The average slot utilization rates in the USWC and USEC kept about 95%, with spot rate tumbling. On Dec.2, freight rates in the services from Shanghai to USWC and USEC (covering seaborne surcharges) quoted USD1456/FEU and USD2414/FEU, declining by 4.7%、3.9% from one week ago respectively.

  Transport demand was weak in the Persian Gulf route, where part of box liners continued to limit capacity, finally, demand/supply remained balanced, and the average slot utilization rate sustained around 80%. Box liners reduced freight rate positively, with spot rate slip depressively. On Dec.2, freight rate in the Shanghai-Persian Gulf route (covering seaborne surcharges) quoted USD545/TEU, declining by 15.0% from one week ago.

  Transport demand rose continuously in the Australia route, where the average slot utilization rate approached 100%. Nevertheless, owing to the large increase of freight rate previously, spot rate declined. On Dec.2, freight rate in the Shanghai-Australia/New Zealand route (covering seaborne surcharges) had a week-on-week tumble of 14% to USD795/TEU.

  Transport demand and demand/supply condition kept unchanged in the South America route, where the average slot utilization rate sustained around 85%, and spot rate grew slightly. On Dec.2, freight rate in the Shanghai-South America (covering seaborne surcharges) quoted USD2477/TEU, having a week-on-week increase of 3.2%.

  The Japan route saw both cargo volume and spot rate stable. On Dec.2, freight index in the China-Japan route quoted 653.17 points, down by 0.4% from one week ago.

 
 
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