Freight rate stable with market flat
Since factories have not recovered to work, China export container transport market sees transport demand flat. The whole spot rate keeps stable, and box liners hold stand-by attitude towards the post market. On Feb.3, Shanghai (Export) Containerized Freight Index (CCFI) issued by Shanghai Shipping Exchange quotes 948.08 points, almost in line with that last week.
Euro Zone economy recovers firmly, and euro zone manufacturing industry expands fast. Beneficial from those factories, cargo volume has a good performance. Although transport demand is weak after the Chinese New Year, box liners still hold positive on the post market, with most of them sustaining the present booking rate, and spot rate stable. On Feb.3, freight rates in the route from Shanghai to Europe (covering seaborne surcharges) quote USD1023/TEU, down by 1.7% from one week ago; freight rate in the route from Shanghai to Mediterranean (covering seaborne surcharges) quote USD988/TEU, almost in line with that last week.
As U.S. economy performs firmly, box liners believe the post market is prospective, and spot rate keeps unchanged in the North America route. On Feb.3, freight rates in the routes from Shanghai to USWC and USEC (covering seaborne surcharges) quote USD2092/FEU and USD3639/FEU, both almost keep in line with that week.
In the Persian Gulf route, since energy price recently rebounding, consumption in the destination spurs, which boosts transport demand. Simultaneously, as box liners carry out capacity limit measures, demand/supply condition keeps stable in general. Most of box liners are on the post market, with spot rate stable. On Feb.3, freight rate in the Shanghai-Persian Gulf route (covering seaborne surcharges) quotes USD630/TEU, almost in line with that one week ago.
In the Australia route, owing to the local transport demand improves, demand/supply condition after the traditional slack season is not positive, and some box liners begin to canvass, with spot rate slip slightly. On Feb.3, freight rate in the Shanghai-Australia route (covering seaborne surcharges) quotes USD730/TEU, falling by 1.1% from one week ago.
In the South America route, owing to the recovery economy in the destination, including Brazil and Argentina, transport demand has no remarkable improvement. Although box liners carry out capacity limit measures, cargo volume is still flat, with lots of excess ship space. Some box liners reduce booking rate, and spot rate declines. On Feb.3, freight rate in the Shanghai-South America route (covering seaborne surcharges) quoted USD1982/TEU, down by 3.6% from one week ago.