All four major routes fell! Especially Missy!

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2024-07-26 18:08

Affected by the new capacity, the Shanghai export container freight index fell for two consecutive weeks, and the European and American ocean routes fell across the board, especially the US-West route.

industry insiders believe that,The freight rate correction is related to the increase in capacity.Freight rates are still expected to decline next week but the decline will narrow. At the same time, new ship deliveries increased significantly in the first half of the year, and more capacity was delivered in the second half of the year, intensifying market competition.

Significantly affected by the new capacity, the latest Shanghai Export Freight Index (SCFI) fell 3.6 per cent to 3542.44 points, which hasThe downward trend for two consecutive weeks, and the decline has expanded.

The four major ocean routes in Europe and the United States all suffered a decline of more than 1%.

among them,Spot market booking prices on European routes fell slightly.July 19, shanghai port exports to europeBasic PortMarket freight rates (ocean freight and marine surcharge) were $5000/TEU, down 1.0 per cent from the previous period.

The freight rate of the Mediterranean route is basically synchronized with that of the European route., market freight rates fell slightly to $5361/TEU, down 1.2 per cent.

Supply and demand on North American routes weakens, market freight rates continue to adjust.

On July 19, the market freight rate (sea freight and sea freight surcharge) for exports from Shanghai Port to the United States and West was US $7124/FEU, down 6.9 per cent from the previous period. The market freight rate (sea freight and sea freight surcharge) for exports from Shanghai Port to the US East Base Port was US $9751/FEU, down 1.3 per cent.

International logistics industry analysts pointed out that after a period of sharp rise in freight rates, there will naturally be a correction,Red Sea Crisis and End of Year US East Coast Labor Contract ExpirationIt is also an important key to affect the market.

In addition, some shipping companies chooseSmall ships deployed to US-West routes to compete for cargoThis further increased the supply of capacity and had a significant impact on the performance of freight rates in the last two weeks.

The senior management of freight forwarding companies and shipping companies also revealed that with the increase in the number of overtime ships and the continuous introduction of new routes, the freight rate of the US-West route has dropped from the highest point of US $8500 on July 1 to the current US $6700-6900. range.

At the same time, freight rates on the US-East route also fell from a peak of $10400 to about $9800.It is expected that the market freight rate will continue to decline next week, but the decline will be narrowed.

AccordingAlphalinerStatistics show that in the first half of the year, a total of 271 new ships were delivered worldwide, with a total capacity of 1.68 million TEU, of which the second quarter was the peak period for ship delivery, with an average of 315000 TEU delivered per month.

As of now, the total global capacity has reached 30.266 million TEU, a record high. It is expected that 1.49 million TEU of additional capacity will be delivered in the second half of the year.

The top three in terms of capacity areMediterranean Shipping MSC,MaerskShipping and Dafei ShipsAmong them, MSC has more than 6 million TEU of capacity and 20% of the market share.

The freight forwarding industry stressed that,High freight rates on European and American routesattracted a large number of overtime boats to the market, andNew route serviceThese are the main reasons for the decline in freight rates.

Among them, due to the high turnover rate of ships,The US-West route has become the hardest hit area.The in stock market price has dropped to 6 characters, with a cumulative decline of more than US $1000.

Even with the loosening of freight rates, the SCFI freight index fell twice in a row, down only 191.36 points and 5.13 percent, a 1.03-fold increase over the 13-week rise from early April to early July,The shipping company is still very profitable.

Although July to August is the traditional peak season for shipments, this year's peak season is ahead of schedule as a whole, making it difficult to see a new wave of increases in shipments from August to September.

However, there is also a view that even if there is a correction after the current sea freight peaked, the correction is expected to be limited.

SCFI Latest Freight Index:

Shanghai to Europe freight rate of $5000/TEU, down $51,weekly decline of 1.01 percent;

Shanghai to Mediterranean freight rate 5361 USD/TEU, down 63 USD,weekly decline of 1.16 percent;

The freight rate from Shanghai to the United States and West is 7124 US dollars/FEU, down 530 US dollars,weekly decline of 6.92 percent;

The freight rate from Shanghai to the US East is 9751 US dollars/FEU, down 130 US dollars,weekly decline of 1.32 percent;

the freight rate of the persian gulf line was 2193 us dollars per container, a weekly drop of 80 us dollars,by 3.52 per cent;

The freight rate of South America Line (Santos) is 8212 US dollars per carton, down 548 US dollars per week., down 6.26 per cent;

In terms of near-ocean lines, the prices from the Far East to Japan's Kansai and Kanto were US $293 and US $299, the same as last week. Each TEU from the Far East to Southeast Asia was 711 US dollars, down 42 US dollars, or 5.57 percent. Each TEU from the Far East to South Korea rose 3 US dollars to 165 US dollars.

The customs are lazy and the driver is cheating. The captain almost took the blame for smuggling!

COSCO Shipping Container, reiterated!