This week, the China’s containerized transport market carried on the downward trajectory because of the slack season prevailing on the main services like Europe and North America, pulling down not only the capacity demand but also the freight rate.
On November 26th, the China (Export) Containerized Freight Index issued by Shanghai Shipping Exchange (SSE) reported 1089.18 points, down 0.7% from last week; while the Shanghai (Export) Containerized Freight Index showed 1157.45 points, down 2.7%.
Traders on the Europe service slowed down their shipment consignment, as a result the slot utilization of the voyages could hardly maintain at 80% ~ 85%, and the freight rate touched a record low in this year citing the sharply slump of the cargo volume.
On November 26th, the freight index of the Europe and Mediterranean services issued by SSE reported 1552.05 points and 1606.34 points, decreased 0.9% and 1.2% from last week.
Pundits indicated that so weak the market was right now that the demand of capacity kept shrinking, triggering the fright rate to drop inevitably. However, the rate would be very likely to rebound with the shipment rush during the new year’s day and the reactivation of the European merchants.
Just like Europe, the North America service maintained the previous downward momentum, where the slot utilization for voyages in US west coast slid to about 80%, while in US east coast the figure saw 70% ~ 75%. The declining trend of cargo volume seemed unstoppable, besides, most carriers on the service had yet to cut the capacity, consequently the glut of capacity caused by which considerably depressed the freight rate.
On November 26th, the freight rate (ocean freight plus surcharge) for the voyages from Shanghai to base ports in US west coast and US east coast quoted USD 1977/FEU and USD 3172/FEU, respectively down 3.5% and 2.8%. Still, no signs of recovery could be perceived in the American economy, as the report issued by US Federal Reserve on the November 23rd, the economic growth rate had been shifted to 2.4% ~ 2.5%, lower than the 3% ~ 3.5% established in June. Besides, the excessive money supply engendered by the US’ outperformed quantitative currency easing policy may evoke a global inflation, whose negative social effect would show increasingly evident in the next few months and thus bringing a lot of uncertainties to the China’s export containerized transport.
In Australia and Singapore service, the substantial decrease of the cargo volume attributing to the finished Christmas shipment in last week had descended the slot utilization to 80% ~ 85%, as a result, carriers hold on from uplifting the freight rate.
On November 26th, the freight index of the Australia and Singapore services issued by SSE saw 1047.25 points, almost the same with last week. With the reference of the custom in the past, the freight rate on the service may probably follow the tracks of the previous downward trend on the Europe and North America services in the next quarter.
Unlike others, the Japan service, in sharp contrast, was at its conventional peak season, where the cargo volume revealed more and more strong and the slot utilization for the voyages on the service had climbed to 80%. Besides, freight rate remain steady.
On November 26th, the freight index of the Japan service issued by SSE showed 760.4 points, basically no change with last week.
On November 26th, the China (Export) Containerized Freight Index issued by Shanghai Shipping Exchange (SSE) reported 1089.18 points, down 0.7% from last week; while the Shanghai (Export) Containerized Freight Index showed 1157.45 points, down 2.7%.
Traders on the Europe service slowed down their shipment consignment, as a result the slot utilization of the voyages could hardly maintain at 80% ~ 85%, and the freight rate touched a record low in this year citing the sharply slump of the cargo volume.
On November 26th, the freight index of the Europe and Mediterranean services issued by SSE reported 1552.05 points and 1606.34 points, decreased 0.9% and 1.2% from last week.
Pundits indicated that so weak the market was right now that the demand of capacity kept shrinking, triggering the fright rate to drop inevitably. However, the rate would be very likely to rebound with the shipment rush during the new year’s day and the reactivation of the European merchants.
Just like Europe, the North America service maintained the previous downward momentum, where the slot utilization for voyages in US west coast slid to about 80%, while in US east coast the figure saw 70% ~ 75%. The declining trend of cargo volume seemed unstoppable, besides, most carriers on the service had yet to cut the capacity, consequently the glut of capacity caused by which considerably depressed the freight rate.
On November 26th, the freight rate (ocean freight plus surcharge) for the voyages from Shanghai to base ports in US west coast and US east coast quoted USD 1977/FEU and USD 3172/FEU, respectively down 3.5% and 2.8%. Still, no signs of recovery could be perceived in the American economy, as the report issued by US Federal Reserve on the November 23rd, the economic growth rate had been shifted to 2.4% ~ 2.5%, lower than the 3% ~ 3.5% established in June. Besides, the excessive money supply engendered by the US’ outperformed quantitative currency easing policy may evoke a global inflation, whose negative social effect would show increasingly evident in the next few months and thus bringing a lot of uncertainties to the China’s export containerized transport.
In Australia and Singapore service, the substantial decrease of the cargo volume attributing to the finished Christmas shipment in last week had descended the slot utilization to 80% ~ 85%, as a result, carriers hold on from uplifting the freight rate.
On November 26th, the freight index of the Australia and Singapore services issued by SSE saw 1047.25 points, almost the same with last week. With the reference of the custom in the past, the freight rate on the service may probably follow the tracks of the previous downward trend on the Europe and North America services in the next quarter.
Unlike others, the Japan service, in sharp contrast, was at its conventional peak season, where the cargo volume revealed more and more strong and the slot utilization for the voyages on the service had climbed to 80%. Besides, freight rate remain steady.
On November 26th, the freight index of the Japan service issued by SSE showed 760.4 points, basically no change with last week.