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CCFI Commentary Issue 50, 2017

  

  Demand and rate rising

  China export box transport market sees transport demand rising narrowly. As some routes condition improves, box liners in many routes hike freight rate, leading spot rate growing and the comprehensive index mounting. On Dec.15, Shanghai (Export) Containerized Freight Index (SCFI) issued by Shanghai Shipping Exchange (SSE) quotes 727.14, a growth of 3.3% comparing with one week ago.

  In the Europe route, transport demand rises and the average slot utilization rate sustains above 90%, with some even full-loaded. For the stable demand/supply condition, box liners hike freight rate, leading spot rate rebounding. On Dec.15, freight rate in the Shanghai-Mediterranean route (covering seaborne surcharges) quotes USD801/TEU, up by 6.7% from one week ago. In the Mediterranean route, as the weak economy, the oversupply of capacity worsens, leading the loading rate in some routes below 80%. Although some part of box liners tries to hike freight rate, most box liners still choose to sustain or reduce freight rate, with spot rate stable. On Dec.15, freight rate in the Shanghai-Mediterranean route (covering seaborne surcharges) quotes USD596/TEU, almost in line with that one week ago.

  In the USWC route, transport demand has a narrow improvement, but the average slot utilization rate sustains around 90%. Most box liners carry out freight rate increase plan as schedule, and spot rate grows. On Dec.15, freight rate in the service from Shanghai to USWC (covering seaborne surcharges) quotes USD1183/FEU, a week-on-week increase of 9.7%. Transport demand keeps hot and some even full-loaded in the USEC route, where box liners hike freight rate largely, leading booking rate rising. On Dec.15, freight rate in the service from Shanghai to USEC (covering seaborne surcharges) quotes USD1967/FEU, up by 9.0% from one week ago.

  In the Persian Gulf route, cargo volume has no remarkable improvement and the average slot utilization rate sustains between 80%-90%. For the excess supply of ship space, most box liners follow reducing freight rate. On Dec.15, freight rate in the Shanghai-Persian Gulf route (covering seaborne surcharges) quotes USD329/TEU, down by 8.6% against one week ago.

  Transport demand slides in the Australia/New Zealand route, where the average slot utilization rate declines to around 90%. Owing to the good condition of the market, most box liners still hold positive attitude, leading spot rate falling slightly. On Dec.15, freight rate in the Shanghai-Australia/New Zealand route (covering seaborne surcharges) has a week-on-week decrease of 2.0% to USD1144/TEU.

  In the South America route, transport demand keeps hot and the average slot utilization rate sustains around 95%. The market goes better in general, with spot rate a large increase. On Dec.15, freight rate in the Shanghai-South America route (covering seaborne surcharges) quotes USD3022/TEU, surging by 12.7% from one week ago.

  Cargo volume keeps stable in the Japan route, where spot rate fluctuates. On Dec.15, freight index in the China-Japan route quotes 673.65 points.

 
 
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