Spot Rate Slip Slightly

　　China export box transport market sees demand stable as a whole. As box liners reduces freight rate actively to expand market shares, freight rate in most routes decreases and the comprehensive index slides. On July 14, Shanghai Export Containerized Freight Index (SCFI) that is issued by Shanghai Shipping Exchange quotes 861.91points, down by 3.1% from one week ago.

　　In the Europe route, the stable recovery of Euro zone economy, which boosts transport demand. The average slot utilization rate for most box liners are nearly 100%. Although demand/supply condition performs well, most box liners reduce booking rate slightly, leading spot rate slip. On July 14, freight rate in the services from Shanghai to Europe and Mediterranean (covering seaborne surcharges) quote USD939/TEU and USD864/TEU, falling by 3.1% and 4.6% against one week ago respectively.

　　The local consumer demand has a stable growth, which spurs the transport demand rising firmly in the North America route. Both the average slot utilization rates in the USWC and USEC routes are above 90%, with some even full-loaded. As part of box liners reduce freight rate, most box liners follow decreasing freight rate to lock market share, with spot rate climbing further. On July 14, freight rates in the routes from Shanghai to USWC and USEC (covering seaborne surcharges) quote USD1265/FEU and USD2251/FEU, down by 5.1% and 2.4% from one previous week ago.

　　Cargo volume performs stably in the Persian Gulf route, where the average slot utilization rate leaving off Shanghai Port remains around 90%. Impacted by the weak market, most box liners reduce booking rate, leading spot rate declining continuously. On July 14, freight rate in the Shanghai-Persian Gulf route (covering seaborne surcharges) quote USD772/TEU, tumbling by 8.7% against one week ago.

　　As consumption is flat in the destination, transport demand has no improvement in the Australia/New Zealand route, where the average slot utilization rate remains around 80%. Since freight rate keeps at the relatively low level, most box liners choose to hold stand-by attitude, only small part of them reducing freight rate slightly. On July 14, freight rate in the Shanghai-Australia route (covering seaborne surcharges) has a week-on-week slip of 2.1% to USD366/TEU.

　　Brazilian economy keeps stable, which spurs transport demand. Simultaneously, as box liners take measures to control capacity, demand/supply condition keeps well. The average slot utilization rate leaving off Shanghai Port is nearly 100%, and ship spaces are short of supply. Most box liners are positive on the post market and lock freight rate at the present level, leading spot rate at the high level continuously. On July 14, freight rate in the Shanghai-South America route (covering seaborne surcharges) quotes USD3762/TEU, down by 0.9% from one week ago.