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CCFI Commentary Issue 16, 2018

  

  Rate ups and downs with Demand Stable

  In the week ending April 13, China export box transport market sees demand stable, freight rates in different routes perform uneven, leading the comprehensive index going north. On April 13, Shanghai (Export) Containerized Freight Index (SCFI) issued by Shanghai Shipping Exchange (SSE) quotes 659.74points, a week-on-week increase of 0.9%.

  In the Europe route, cargo volume keeps rising slowly but fails to improve demand/supply condition, and the average slot utilization rate hovers around 90%, with spot rate sliding. On April 13, freight rate in the routes from Shanghai to the Europe (covering seaborne surcharges) quotes USD585/TEU, falling by 5.2% from one week ago. In the Mediterranean route, demand/supply condition is weak and the average slot utilization rate is around 85%, with spot rate falling. On April 13, freight rate in the routes from Shanghai to the Mediterranean (covering seaborne surcharges) quotes USD600/TEU, tumbling by 2.6% from one week ago.

  Transport demand keeps rising in the North America route, where demand/supply condition tends well and the average slot utilization rate mounts to around 95%, with spot booking rate growing marginally. On April 13, freight rates in the routes from Shanghai to USEC and USEC (covering seaborne surcharges) quote USD1152/FEU and USD2192/FEU, up by 2.1% and 2.0% against last week.

  Transport market recovers and demand rises in the Persian Gulf route, where some box liners limit capacity which improves demand/supply condition, and the average slot utilization rate mounts to around 85%, with spot rate rebounding. On April 13, freight rate in the Shanghai-Persian Gulf route (covering seaborne surcharges) quotes USD327/TEU, up by 5.1% comparing with one week ago.

  The market and transport demand keep flat in the Australia/New Zealand route, where box liners continue to control capacity but fail to improve demand/supply condition, and the average slot utilization rate hovers around 80%. Spot rate slides further. On April 13, freight rate in the Shanghai-Australia/New Zealand route quotes USD846/TEU, falling by 4.2% against one week ago.

  Transport demand keeps stable in the South America route, where demand/supply condition tights and the average slot utilization rate is around 95%. Some box liners have to hike booking rate, leading spot rate grows largely. On April 13, freight rate in the Shanghai-South America route (covering seaborne surcharges) has a week-on-week increase of 4.2% to USD2094/TEU.

  In the Japan route, demand/supply condition and spot rate keep stable. On April 13, freight index in the China-Japan route quotes 725.50points.

 
 
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