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CCFI Commentary Issue 17, 2017

  

  Rate Fluctuates with Market Stable

  China export box transport market performances stably as a whole, with demand/supply condition stable and freight index tumbling. On April 21, Shanghai Containerized Freight Index (SCFI) issued by Shanghai Shipping Exchange (SSE) quotes 807.55 points, almost in line with that one week ago.

  According to data issued by Markit, Euro zone economy outlook is still positive, which boosts the transport demand in the Europe route. Owing to the stabilization of whole capacity, demand/supply condition keeps balanced, and the average slot utilization rate is between 90%-95%, with spot rate rising. On April 21, freight rate in the Shanghai-Europe route (covering seaborne surcharges) has a week-on-week decline of 1.6% to USD880/TEU. Transport demand roses slightly and demand/supply condition improves in the Mediterranean route, where the average slot utilization rate is around 95%, with spot booking rate arising. On April 21, freight rate in the Shanghai-Mediterranean route (covering seaborne surcharges) quotes USD841/TEU, down by 1.7% from one week previously.

  In the North America route, U.S. employment rate begins to decline, which drags down the growth of transport demand. The average slot utilization rate sustains between 90%-95%, with spot rate slip. On April 21, freight rates in the services from Shanghai to USWC and USEC (covering seaborne surcharges) quotes USD1326/FEU and USD2307/FEU, down by 2.3% and 2.2% from one week ago respectively.

  Cargo volume slides in the Persian Gulf route, where the average slot utilization rate is below 90% and spot rate continues to slip, although part of box liners limit capacity. On April 21, freight rate in the Shanghai-Persian Gulf route (covering seaborne surcharges) quotes USD829/TEU, decreasing by 2.1% against one week ago.

  In the Australia/New Zealand route, transport demand keeps flat leading the oversupply of capacity worsens, and the average slot utilization rate is below 85%. Spot rate tumbles further. On April 21, freight rate in the Shanghai-Australia route (covering seaborne surcharge) quotes USD424/TEU, down by 1.4% from one week ago.

  Cargo volume keeps stable generally in the South America route, where some box liners control capacity to sustain demand/supply condition, and the average slot utilization rate stands between 90%-95%. Box liners push up freight rate previously but it declines this week. On April 21, freight rate in the Shanghai-South America route (covering seaborne surcharges) has a week-on-week slip of 3.6% to USD2448/TEU.

  Transport demand grows in the Southeast Asia route, where some box liners shrink capacity supply causing space supply shortened, and spot rate increases continuously. On April 21, freight index in the Southeast Asia route quotes 791.73 points,up by 4.4% from one week ago.

  

 
 
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