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CCFI Commentary Issue 49, 2016

  Both Cargo Volume and Rate Rose

  Supported by shipment rush before the Chinese Spring Festival, China export box transport market continued to grow. Supply/demand condition improved and freight rates in ocean-going routes were pushed up. Finally, the comprehensive index had a big growth. On Dec.30, Shanghai (Containerized) Freight Index (SCFI) issued by Shanghai Shipping Exchange (SSE) quoted 951.66 points, having a week-on-week increase of 15.5% to 951.66 points.

  European economy recovered firmly recently, plus the shipment rush before the Chinese Spring Festival, supp/y/demand condition in the Europe route improved and the average slot utilization rate approached 100%, with more than one even 100%. Since the good performance of market, most box liners lifted booking rate in the early February, and spot rate grew firmly. On Dec.30, freight rate in the routes from Shanghai to European and Mediterranean (covering seaborne surcharges) quoted USD1168 /TEU and USD 1086/TEU, up by 11.3% and 12.8% comparing with that in last week.

  The recovering U.S. economy spurred residents’ consumption, and there was a shipment rush before the Chinese Spring Festival in the North America route. Both the average slot utilization rates in the USWC and USEC stood above 95%, with some even full-loaded. Owing to that most box liners held positive attitude towards the post market, freight rate was hiked at a relatively large and spot rate rose largely. On Dec.30, freight rates in the routes from Shanghai to USWC and USEC (covering seaborne surcharges) quoted USD1923/FEU and USD3100/FEU,growing by 24.8% and 18.6% against one week ago.

  In the Persian Gulf route, transport demand was hot before the Chinese Spring Festival, simultaneously, box liners carried on capacity limit measures. Finally, supply/demand condition improved and the average slot utilization rate stood around 90%. However, box liners carry out different strategies, spot rate ups and downs, but rose in general. On Dec.30, freight rate in the Shanghai-Persian Gulf route (covering seaborne surcharges) quoted USD517/TEU, up by 4.4% from one week ago.

  Cargo volume increased firmly in the Australia/New Zealand route, where demand/supply condition improved in overall, and the average slot utilization rate remained above 90%. After most box liners carrying out freight rate increase plan, spot rate had a large growth. On Dec.30, freight rate in the Shanghai-Australia/New Zealand route (covering seaborne surcharges) had a week-on-week increase of 31.5% to USD982/TEU.

  Transport demand kept stable in the South America route, where under the support of capacity limit measures by box liners, demand/supply condition improved and the average slot utilization rate grew to 95% about. Most box liners hiked freight rate with the extent of bypass USD1000/TEU, leading spot rate arise largely. On Dec.30, freight rate in the Shanghai-South America route (covering seaborne surcharges) quoted USD2828/TEU, surging by 61.0% from one week ago.

  Cargo volume decreased in the Japan route, where spot rate declined slightly. On Dec.30, freight index in the China-Japan route (covering seaborne surcharges) quoted 649.77points, down by 1.8% from one week ago.

 
 
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