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CCFI Commentary Issue 6, 2018
  

Demand and Rate Rising

  China export box transport market sees transport demand rising stably. Freight rates in most ocean-going routes grow, boosting the comprehensive index. On Jan.26, Shanghai (Export) Containerized Freight Index (SCFI) issued by Shanghai Shipping Exchange (SSE) quotes 858.60 points, up by 2.2% comparing with one week ago.

  In the Europe route, cargo volume is sufficient and the average slot utilization rate sustains above 95%, with spot rate growing. On Jan.26, freight rate in the Shanghai-Mediterranean route (covering seaborne surcharges) quotes USD907/TEU, down by 1.8% against one week ago. In the Mediterranean route, the average slot utilization rate is between 90%-95%, with spot rate going north. On Jan.26, freight rate in the Shanghai-Mediterranean route (covering seaborne surcharges) quotes USD772/TEU, up by 1.4% against one week ago.

  Transport demand keeps stable in the North America route, where the demand/supply condition goes well and the average slot utilization rate is around 95%, with spot rate stable. However, transport markets in the USWC and USEC routes have uneven performances. In the USWC route, the rising cargo volume spurs spot rate. On Jan.26, freight rate in the route from Shanghai to USWC (covering seaborne surcharges) quote USD1457/FEU, up by 1.5% from one week ago. In the USEC route, freight rate slips. On Jan.26, freight rate in the route from Shanghai to USEC (covering seaborne surcharges) quotes USD2761/FEU, down by 1.1% against one week ago.

  In the Persian Gulf route, as the coming of the “Spring Festival”, transport demand keeps rising, and the average slot utilization rate sustains above 90%. Spot rate has a large growth. On Jan.26, freight rate in the Shanghai-Persian Gulf route (covering seaborne surcharges) quotes USD631/TEU, surging by 10.3% against one week ago.

  In the Australia/New Zealand route, the market has a stable performance and the average slot utilization rate leaving off Shanghai Port is around 95%. Spot booking rate keeps firm. On Jan.26 freight rate in the Shanghai-Australia/New Zealand route (covering seaborne surcharges) quotes USD1360/TEU, almost in line with one week ago.

  In the South America route, as box liners announce to hike freight rate since Feb.1, cargo owners rush to make shipment ahead, leading the average slot utilization rate reaching around 95%, with spot booking rate bouncing. On Jan.26, freight rate in the Shanghai-South America route (covering seaborne surcharges) quotes USD2393/TEU, up by 9.8% from one week ago.

  Demand/supply condition and spot rate keep stable in the Japan route. On Jan.26, freight index in the China-Japan route quotes 713.89 points.

 
 
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