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CCFI Commentary Issue 1, 2018

  Demand Stable with Index Slip

  China export box transport market sees transport demand stable, with freight rates ups and downs. The comprehensive index fluctuates. On Dec.22, Shanghai (Export) Containerized Freight Index (SCFI) issued by Shanghai Shipping Exchange (SSE) quotes 723.20 points, down by 0.5% comparing with one week ago.

  In the Europe route, transport demand rises and the average slot utilization rate sustains above 95%, with spot rate rebounding. On Dec.22, freight rate in the Shanghai-Mediterranean route (covering seaborne surcharges) quotes USD800/TEU, almost in line with one week ago. In the Mediterranean route, the market has a similar performance as that in the Europe route, but demand/supply condition is weaker and the average slot utilization rate around 85%-90%.On Dec.22, freight rate in the Shanghai-Mediterranean route (covering seaborne surcharges) quotes USD596/TEU, almost in line with that one week ago.

  U.S. consumption is strong, which supports transport demand In the North America route. Transport demand keeps stable, and the average slot utilization rate sustains around 95%, with spot rate ups and downs. On Dec.22, freight rates in the routes from Shanghai to USWC and USEC (covering seaborne surcharges) quote USD1177/FEU and USD1972/FEU, down by 0.5% and up by 0.3% from one week ago respectively.

  In the Persian Gulf route, transport demand and the market are flat. Despite part of box liners limit capacity, the demand/supply condition has no improvement, and the average slot utilization rate sustains around 80%, with spot rate slip. On Dec22, freight rate in the Shanghai-Persian Gulf route (covering seaborne surcharges) quotes USD319/TEU, down by 3.0% against one week ago.

  The Transport market performs stable in the Australia/New Zealand route, where transport demand and demand/supply condition recover, and the average slot utilization rate keeps around 90%, with spot booking rate unchanged. On Dec.22, freight rate in the Shanghai-Australia/New Zealand route (covering seaborne surcharges) up by 0.1% from one week ago to USD1145/TEU.

  In the South America route, transport demand and the demand/supply condition keep stable, where the average slot utilization rate sustains around 95%. The booking rate in the spot market declines. On Dec.22, freight rate in the Shanghai-South America route (covering seaborne surcharges) quotes USD2986/TEU, down by 1.2% from one week ago.

  Cargo volume and spot rate keep stable in the Japan route. On Dec.22, freight index in the China-Japan route quotes 668.92points.

  

 
 
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