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CCFI Commentary Issue 2, 2018

  Demand and Rate Rise

  China export box transport market sees transport demand improving. As the end of 2017, cargo owners concentrate to make shipment ahead of the Spring Festival, the market condition in most services recovers, and freight rates in most services are pushed up. Spot rate and the comprehensive index rise. On Dec.29, Shanghai (Export) Containerized Freight Index (SCFI) issued by Shanghai Shipping Exchange (SSE) quotes 824.18 points, jumping by14.0% comparing with one week ago.

  As the coming of traditional peak season before the Spring Festival, transport demand rises in the Europe route, where the average slot utilization rate sustains above 95%, with some even 100%. As transport demand goes better, box liners hike booking rate, leading spot rate rising. On Dec.29, freight rate in the Shanghai-Mediterranean route (covering seaborne surcharges) quotes USD864/TEU, more than USD64/TEU against one week ago. In the Mediterranean route, having a similar performance as its Europe counterpart, sees the demand/supply condition improving largely and the average slot utilization rate recovers to around 90%. Most of box liners rise booking rate, and larger than their Europe counterparts, with spot rate surging. On Dec.29, freight rate in the Shanghai-Mediterranean route (covering seaborne surcharges) quotes USD738/TEU, more than USD142/TEU against one week ago.

  As cargo owners concentrate to make shipment before the Spring Festival, transport demand rising largely in the North America route. In the USWC service, the average slot utilization rate recovers to around 95%, and spot rate has a remarkable improvement after most box liners announcing to hike freight rate as scheduled. On Dec.29, freight rate in the route from Shanghai to USWC (covering seaborne surcharges) quote USD1523/FEU, more than USD346/FEU comparing with one week ago. In the USEC route, for the hot demand, more than one route is nearly full-loaded, with booking rate jumping. On Dec.29, freight rate in the service from Shanghai to USEC (covering seaborne surcharges) quotes USD2418/FEU, rising USD446/FEU against last week.

  In the Persian Gulf route, transport demand is increasing. As part of box liners limit capacity, the average slot utilization rate leaving off Shanghai Port mounts to around 85%, with spot rate growing largely. On Dec29, freight rate in the Shanghai-Persian Gulf route (covering seaborne surcharges) quotes USD415/TEU, more than USD96/TEU against one week ago.

  Both the Transport market and demand/supply condition are stable in the Australia/New Zealand route, where the average slot utilization rate keeps between 90%-95%, with spot rate growing marginally. On Dec.29, freight rate in the Shanghai-Australia/New Zealand route (covering seaborne surcharges) grows USD40/TEU from one week ago to USD1185/TEU.

  In the South America route, transport demand keeps on the uptrend ward, and the average slot utilization rate sustains around 95%, with spot rate rising slightly. On Dec.29, freight rate in the Shanghai-South America route (covering seaborne surcharges) quotes USD3150/TEU, increasing USD164/TEU comparing with one week ago.

  Cargo volume keeps stable in the Japan route, where spot rate fluctuates. On Dec.29, freight index in the China-Japan route quotes 671.12points.

  

 
 
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