, driven by the sharp rise in US freight rates, the latest Shanghai export container freight index SCFI rose 3.17 per cent to 953.6 points, ending three consecutive falls. Different routes have diverged due to their respective supply and demand fundamentals. European routes continued to fall, the United States West, the United States East per 40-foot container freight rates rose 20.03 percent, 14.9 percent.
, under the control of the shipping company to reduce shifts and control cabins, several freight forwarders revealed that they had received a notice of an increase of about US $400 per 40-foot container freight rate on July 1. Insiders pointed out that because the United States will also raise interest rates.
, relatively speaking, the European line and the Mediterranean line continued to fall, with freight rates falling by US $30 and US $122 per 20-foot cabinet respectively. The industry revealed that the relatively high freight rates of the Mediterranean route, to attract new ships, large ships continue to invest, grab goods to kill prices to pull down freight rates.
A number of shipping companies, freight forwarders said that the current European and American market actual cargo volume is not much, support freight rate increases are limited.
According to SCFI's latest quotation:
industry insiders pointed out that the actual volume of goods in the market has not increased. Yangming's THE alliance canceled the US-West route last week and EVA's ocean alliance also canceled the US-West route this week, thus pushing up the freight rate, but it is estimated that it will be difficult to last. After the increase in the number of ships sailing on the Mediterranean route with high freight rates, the decline in freight rates has increased. Shipping companies have taken away the Indian route and switched to the Mediterranean route. Now the Indian route is going to increase in price.
Industry insiders pointed out that in the low freight rates, the world's major shipping companies continue to reduce shifts to control capacity supply to support freight rates, with the arrival of the third quarter of the traditional peak season, do not rule out the next U.S. line freight rates continue to rebound, the U.S. West line is expected to take the lead back to 1500 U.S. dollars/FEU level, the U.S. East line will return to 2500 U.S. dollars/FEU price.
On the other hand, the European route recently continued to have super-large container ships delivered to operation, the relatively high freight rates of the Mediterranean line to attract new ships, large ships continue to invest, grab goods to kill prices to pull down freight rates; and the Russian-Ukrainian war is not over, market demand has not yet come out, resulting in European route freight rates continue to fall.
At present, the market volume demand has begun to recover, which reflects that the U.S. retail terminal is not too pessimistic, consumer product demand has increased, coupled with the export of semi-finished products, etc., however, because some industries have not yet recovered, can return to the past peak season level remains to be seen.
Source: Ningbo Shipping