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CCFI Commentary Issue 5, 2018
  

Demand Rising with Rate ups and downs

  China export box transport market sees transport demand rising stably. With the arrival of shipment rush ahead of the Spring Festival, cargo volume is hot, and freight rate increase plan is accepted. Freight rates in some routes ups and downs, with the comprehensive index rising. On Jan.19, Shanghai (Export) Containerized Freight Index (SCFI) issued by Shanghai Shipping Exchange (SSE) quotes 840.36 points, up by 0.1% comparing with one week ago.

  In the Europe route, transport demand is hot, and the average slot utilization rate sustains above 95%, with some even full-loaded. Spot rate keeps growing. On Jan.19, freight rate in the Shanghai-Mediterranean route (covering seaborne surcharges) quotes USD891/TEU, down by 0.7% against one week ago. In the Mediterranean route, the demand/supply condition keeps stable and the average slot utilization rate sustains around 90%, with some even 100%. On Jan.19, freight rate in the Shanghai-Mediterranean route (covering seaborne surcharges) quotes USD761/TEU, up by 0.3% against one week ago.

  Cargo volume keeps stable in the North America route. The average slot utilization rate in the USWC route reaches around 90%. Spot rate slips. On Jan.19, freight rate in the routes from Shanghai to USWC (covering seaborne surcharges) quote USD1436/FEU, down by 5.2% from one week ago. In the USEC route, owing to the hot transport demand, the average slot utilization rate is between 95%-100%, with some even full-loaded. Box liners hike freight rate again and spot rate rises. On Jan.19, freight rate in the route from Shanghai to USEC (covering seaborne surcharges) quotes USD2792/FEU, jumping by 7.1% against one week ago.

  In the Persian Gulf route, as the coming of the “Spring Festival”, the demand/supply condition improves, and the average slot utilization rate sustains 95%. Spot rate recovers continuously. On Jan.19, freight rate in the Shanghai-Persian Gulf route (covering seaborne surcharges) quotes USD572/TEU, surging by 27.1% against one week ago.

  For the coming of Chinese Festival, cargo volume has a good performance in the Australia/New Zealand route, where the average slot utilization rate leaving off Shanghai Port is around 95%. After box liners has hiked freight rate last week, spot rate rebounds. On Jan.19, freight rate in the Shanghai-Australia/New Zealand route (covering seaborne surcharges) falls by 2.8% from one week ago to USD1360/TEU.

  In the South America route, cargo volume keeps rising and transport demand goes better. Owing to part of box liners add capacity input, demand/supply condition reaches about 90%. Box liners reduce freight rate to lock their market shares, with spot rate slip. On Jan.19, freight rate in the Shanghai-South America route (covering seaborne surcharges) quotes USD2179/TEU, down by 13.4% from one week ago.

  Demand/supply condition keeps stable in the Japan route, where spot rate fluctuates. On Jan.19, freight index in the China-Japan route quotes 712.65 points.

 
 
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