Spot rates dropped on most shipping routes

　　In this week, China export container transport demand was stable and spot rate fluctuated on most shipping routes. The composite index slight dropped. On September 14th, Shanghai (Export) Containerized Freight Index (SCFI) issued by Shanghai Shipping Exchange (SSE) quoted 909.74 points, down by 1.3% from previous week.

　　In the Europe route, according to data released by ZEW, the Eurozone's September ZEW economic sentiment index was -7.2, indicating that the recovery of the European economy was not stable. The shipping demand declined in recent period, and the balance between supply and demand was under pressure. This week, the average slot utilization rate ex Shanghai slid down to 90%. Affected by this, the spot market rate fell. On September 14th, freight rate in the route from Shanghai to Mediterranean (contains seaborne related surcharges) quoted USD852/TEU, down by 2.1% from last week ago.

　　In the North America route, as per data released by the US Department of Labor, the number of non-agricultural employment increased by 201,000 in August, and the salary growth rate reached 2.9% year-on-year, the largest increase since June 2009, indicating that the US economy was in growth. Benefited by this, the transportation demand remained at high level, and the space supply was slightly tight. The average slot utilization rate ex Shanghai maintained above 95%, many vessels departed with full loads. The spot market rate slightly waved around the hiked rate. On September 14th, freight rates in the routes from Shanghai to USWC and USEC (contains seaborne related surcharges) quoted USD2349/FEU and USD3512/FEU, slightly up by 0.7% and down by 0.2% respectively compared to last week.

　　In the Persian Gulf route, the shipping demand was still in doldrums. Even some carriers took measures to control the space supply, the market fundamentals was not improved. This week, the average slot utilization rate ex Shanghai was around 85%. Spot market rate stabilized after several weeks falling. On September 14th, freight rate in the Shanghai to Persian Gulf route (contains seaborne related surcharges) quoted USD391/TEU, almost in line with previous week.

　　In the Australia/New Zealand route, the market performance was relative soft. Due to the slide of shipping demand, some carriers continued to limit the total space supply. However, due to the poor supply and demand relationship, the spot rate continued to fall. On September 14th, freight rate in the Shanghai to Australia/New Zealand route (contains seaborne related surcharges) quoted USD552/TEU, down by 1.3% against one week ago.

　　In the South America route, the transportation demand remained stable, and the supply-demand relationship was in sound level. The average slot utilization rate ex shanghai hovered about 95%. The spot market freight rate has dropped sharply in recent. This week, the freight rate continued to decline. On September 14th, freight rate in the Shanghai-South America route (contains seaborne related surcharges) quoted USD1272/TEU, down by 3.0% compared to last week.

　　In the Japan route, shipping demand and market rate both was stable. On September 14th, freight index in the China to Japan route quoted 721.79 points, up by 0.9% compared with last week