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CCFI Commentary Issue 3, 2018

  

  Rate ups and down but Demand Rising

  China export box transport market sees transport demand rising. With the arrival of shipment rush ahead of the Spring Festival, cargo volume is sufficient, and freight rate increase plan is accepted. Freight rates in some routes slip and some rise, with the comprehensive index fell slightly. On Jan.5, Shanghai (Export) Containerized Freight Index (SCFI) issued by Shanghai Shipping Exchange (SSE) quotes 816.58 points, down by 0.9% comparing with one week ago.

  In the Europe route, transport demand rises and the average slot utilization rate is nearly full-loaded, with spot rate mounting. On Jan.5, freight rate in the Shanghai-Mediterranean route (covering seaborne surcharges) quotes USD888/TEU, rising by 2.8% against one week ago. In the Mediterranean route, the demand/supply condition goes better, and the average slot utilization rate amounts to above 95%, with some even 100%. On Jan.5, freight rate in the Shanghai-Mediterranean route (covering seaborne surcharges) quotes USD738/TEU, almost in line with that one week ago.

  As the coming of Spring Festival, cargo volume is sufficient in the North America route. in the USWC route, the average slot utilization rate reaches around 95%, with some even full-loaded, and spot rate slip. On Jan.5, freight rate in the routes from Shanghai to USWC (covering seaborne surcharges) quote USD1465/FEU, down by 3.8% from one week ago. In the USEC route, owing to the hot transport demand, the average slot utilization rate is full-loaded. Box liners hike freight rate successfully in early Jan., spot rate keeps in line with one week ago. On Jan.5, freight rate in the route from Shanghai to USEC (covering seaborne surcharges) quotes USD2425/FEU, up by 0.3% against one week ago.

  In the Persian Gulf route, as some box liners limit capacity input and the arrival of shipment rush before the “Spring Festival”, the demand/supply condition improves, and the average slot utilization rate sustains around 90%. Spot rate recovers. On Jan.5, freight rate in the Shanghai-Persian Gulf route (covering seaborne surcharges) quotes USD433/TEU, up by 4.3% against one week ago.

  The Transport market performs stable in the Australia/New Zealand route, where demand/supply condition keeps on the good condition, and the average slot utilization rate keeps above 95%, with some even full-loaded. For the good performance of the market, spot rate rises slightly. On Jan.5, freight rate in the Shanghai-Australia/New Zealand route (covering seaborne surcharges) up by 2.8% from one week ago to USD1218/TEU.

  Cargo volume has a narrow growth in the South America route, where the average slot utilization rate sustains around 95%, with transport demand keeping firm. As freight rate stays on the relatively high level, some box liners extend the input of capacity and carry out freight rate decrease plan. As a result, completion stiffens and freight rate slip. On Jan.5, freight rate in the Shanghai-South America route (covering seaborne surcharges) quotes USD2923/TEU, down by 7.2% from one week ago.

  In the Japan route, Cargo volume keeps stable and spot rate fluctuates. On Jan.5, freight index in the China-Japan route quotes 678.52points.

  

 
 
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