The market remained stable in general with the spot rates of America routes decreased

　　In this week, the performance of China's export container shipping market was generally stable. The spot rate declined in North America and South America service routes, and the composite index fell slightly. On August 16th, Shanghai (Export) Containerized Freight Index (SCFI) issued by Shanghai Shipping Exchange (SSE) quoted 803.82 points, down by 2.2% compared with previous week.

　　In the Europe route, the market was in the peak season, and the cargo volume remained at a high level. There were still blank sailing operations executed by carriers to control the scale of capacity supply, and the relationship between supply and demand remained healthy. This week, the average slot utilization rate ex Shanghai Port was above 95%, and many voyages were fully loaded. Except for a small increase in freight rates by individual carriers, most of them kept their quotations without change, and the freight index trend was flat. On August 16th, freight rate in the route from Shanghai to Europe (including seaborne related surcharges) was quoted USD812/TEU, which was kept even with one week ago. In the Mediterranean route, the overall capacity in the route has decreased. This week, the average slot utilization rate ex Shanghai Port was around 95%, and some vessels departed with full loads. The booking rates offered by different carriers diversified. Concerning that there were more hiked offers than decreased ones, the freight index kept rising slightly. On August 16th, freight rate in the route from Shanghai to Mediterranean (including seaborne related surcharges) was quoted USD1017/TEU, up by 4.4% from one week ago.

　　In the North America route, as there was no sign of settlement on the Sino-US trade friction, the cargo volume performance was under pressure. Meanwhile, affected by factors such as the high inventory level of North American warehouses and the increase of capacity supply, the market performance was poorer than those of previous years during the peak season. This week, the average slot utilization rate ex Shanghai Port to USWC and USEC remained at around 95%, while the rate of some ports in North China was even lower. Affected by the lower-than-expected market fundamentals, most carriers lowered their expectations for the market outlook, and the spot market rate continued to fall. On August 16th, freight rates in the routes from Shanghai to USWC and USEC (including seaborne related surcharges) quoted USD1368/FEU and USD2543/FEU, down by 7.2% and 4.4% respectively compared to last week.

　　In the Persian Gulf route, affected by the regional situation at destination, the transportation demand maintained at a low level. Thanks to carriers’ capacity controlling measures, the supply and demand situation of the route remained relatively balanced. This week, the average slot utilization rate ex Shanghai Port was around 95%. The trend of the freight rate was relatively flat. Most carriers maintained their quotations or adjust the price slightly. The spot market freight rate almost kept the same without change. On August 16th, freight rate in the Shanghai to Persian Gulf route (contains seaborne related surcharges) quoted USD684/TEU, almost kept in line with previous week.

　　In the Australia/New Zealand route, the market was in the traditional peak season, and the cargo volume remained at a relatively high level. Some carriers extended their capacity controlling measures, and the relationship between supply and demand has remained at healthy level. This week, the average slot utilization rate ex Shanghai Port was above 95%, and most voyages were fully loaded. Affected by this, some carriers further increased their booking rates while others kept their quotations on the hiked basis. The spot market freight rate increased again. On August 16th, freight rate in the Shanghai to Australia/New Zealand route (contains seaborne related surcharges) quoted USD609/TEU, up by 3.0% from one week ago.

　　In the South America route, the cargo volume still kept at a high level during the peak season. Even some carriers expanded their capacity supply, the overall demand and supply balance remained stable. This week, the average slot utilization rate ex Shanghai Port was between 95% and 100%, and a lot of vessels were fully loaded. Anyway, the pricing strategies of various carriers were diversified. The freight rate had a small falling back from previous hiked rate. On August 16th, freight rate in the Shanghai to South America route (contains seaborne related surcharges) quoted USD2028/TEU, down by 3.6% compared to last week.

　　In the Japan route, cargo volume kept stable, and the freight rate was stable as well. On August 16th, freight index in the China to Japan route quoted 721.94 points, down by 0.4% from previous week.