Cargo Volume and Freight Rate Slip

　　In the week ending Feb.10, China export box transport market is weak as the Chinese Spring Festival, with both demand and supply condition improving. Spot rate begins to decline, leading the comprehensive index falling. On Feb.10, Shanghai (Export) Containerized Freight Index (SCFI) issued by Shanghai Shipping Exchange (SSE) quotes 886.26 points, a week-on-week slip of 6.5%.

　　In the Europe route, transport demand traps on the weak condition. Simultaneously, as some service stops to work, supply/demand condition balanced temporarily, and the average slot utilization rate sustains between 85%-90%. After increasing for several times, freight rate stands on the relatively high level, but spot rate tumbles this week. On Feb.10, freight rate in the Shanghai-Europe route (covering seaborne surcharges) quotes USD913/TEU, falling by 10.8% against last week. The Mediterranean route sees cargo volume vulnerable, and the average slot utilization rate is below 80%, with spot rate declining. On Feb.10, freight rate in the Shanghai-Mediterranean route (covering seaborne surcharges) quotes USD876TEU, falling by 11.3% against one week ago.

　　In the North America route, transport demand is improving from the Chinese Festival Holiday, cargo volume performs not as good as previously, and some capacities have to be withdrawn during the Holiday. As a result, supply/demand condition keeps stable in general, and the average slot utilization rate stand between 85%-90%. Freight rate stands at the relatively high level in this route recently, but spot rate declines this week. On Feb.10, freight rate in the routes from Shanghai to USWC and USEC (covering seaborne surcharges) quote USD1964/FEU and USD3456/FEU, falling by 6.1% and 5.0% from one week ago respectively.

　　As the end of Chinese Spring Festival, transport demand begins to rise, plus some vessels ceasing to work, supply/demand condition improves in the Persian Gulf route, where the average slot utilization rate stands above 90%, with spot rate falling marginally. On Feb.10, freight rate in the Shanghai-Persian Gulf route (covering seaborne surcharges) has a week-on-week slip of 3.3% to USD609/TEU.

　　Transport demand performs flat in Australia/New Zealand route, where most vessels recover to work, and the average slot utilization rate declines to 85% around, leading spot rate slip. On Feb.10, freight rate in the Shanghai- Australia/New Zealand route (covering seaborne surcharges) quotes USD660/TEU, falling by 9.6% from one week ago.

　　Transport demand keeps stable in the South America route, where the average slot utilization rate sustains around 85%. Main box liners see freight rate ups and downs and the whole freight rate decline slightly. On Feb.10, freight rate in the Shanghai-South America route (covering seaborne surcharges) quotes USD1960/TEU，down by 1.1% from one week ago.