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CCFI Commentary Issue 7, 2018

  Demand Is Hot with Rate Stable

  China export box transport market sees demand keep hot. As the approach of Spring Festival, cargo volume has a large growth, and box liners face to hike freight rate again. Freight rate increases as a whole, leading the comprehensive index growing. On Feb.2, Shanghai (Export) Containerized Freight Index (SCFI) issued by Shanghai Shipping Exchange (SSE) quotes 883.59 points, up by 2.9% against one week ago.

  Cargo volume keeps stable in the Europe route, where transport demand grows and the average slot utilization rate is nearly full-loaded. For the good performance of the market, most box liners take measures to hike freight rate. On Feb.2, freight rate in the route from Shanghai to Europe (covering seaborne surcharges) quotes USD912/TEU, up by 0.6% from one week ago. In the Mediterranean route, demand/supply condition keeps stable, and the average slot utilization rate is above 95%, with some even 100%. Some box liners take measures to sustain freight rate, and some hike booking rate slightly, leading spot rate rising. On Feb.2, freight rate in the Shanghai-Mediterranean route (covering seaborne surcharge) quote USD797/TEU, up by 3.2% against one week ago.                                                              

  Cargo volume is sufficient for the coming of Spring Festival, and transport demand keeps hot in the North America route. The average slot utilization rates in the USWC and USEC routes are almost 100%. As the good performance of demand/supply condition, box liners hike booking rate, and freight rates in the USWC and USEC routes increase. On Feb.2, freight rate in the route from Shanghai to USWC (covering seaborne surcharges) quote USD1552/FEU, up by 6.5% from one week ago. Freight rate in the route from Shanghai to USEC route (covering seaborne surcharges) has a week-on-week growth of 3% to USD2843/FEU.

  In the Persian Gulf route, as the coming of Spring Festival, cargo volume grows firmly, and transport demand keeps well. The average slot utilization rate amounts to above 95%。As freight rate has a large increase previously, some box liners reduce freight rate slightly, leading spot rate falls. On Feb.2, freight rate in the Shanghai-Persian Gulf route (covering seaborne surcharges) quotes USD611/TEU, down by 3.2% from one week ago.

  The market performs flat in the Australia/New Zealand route, where cargo volume grows firmly and the average slot utilization rate is above 95%, with some even full-loaded. Owing for the good performance of the market, part of box liners reduce freight rate, causing spot rate falls down. On Feb.2, freight rate in the Shanghai-Australia/New Zealand route quotes USD1351/TEU, down by 0.7% against one week ago.

  As the reach of Spring Festival, cargo volume keeps growing in the South America route, where transport demand goes better. As some box liners withdraw capacity contemporary, the average slot utilization rate amounts to around 95%, with some even full-loading. Some box liners hike booking rate one more, leading spot rate going north. On Feb.2, freight rate in the Shanghai-South America route  has a week-on-week increase of 8% to USD2584/TEU.

  In the West Africa route, for the shipment rush, transport demand has a large growth, leading spot rate rising. On Feb.2, freight rate in the route from Shanghai to West Africa route (covering seaborne surcharges) quotes USD1804/TEU, surging by 18.3% against one week ago.

  Demand/supply condition keeps stable in the Japan route, where spot rate almost in line with last week. On Feb.2, freight index in the China-Japan route quotes 714.08 points.

  

 
 
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