Recently, the latest SCFI freight rate index released by the Shanghai Shipping Exchange stood at 1,506.46 points, up 7.8% from the previous period. The freight rates of the four major routes all saw significant increases.
Among them, the Mediterranean route saw the largest increase of 19%; the Europe route rose by 9.9%; and the Westbound and Eastbound routes to the United States also increased by 14%.
Due to the price hikes by some shipping lines, on December 12th, the market freight rate (including ocean freight and marine surcharges) from Shanghai Port to major European ports was $1,538 per TEU, an increase of 9.9% compared to the previous period.
Analysis suggests that the PA Alliance has been experiencing a significant number of missed containers on the Europe route recently. Additionally, major European ports have been affected by strikes, leading to congestion. Please arrange your shipments accordingly.
Compared with the European routes, the transportation market capacity of the Mediterranean routes is smaller than that of Europe, and the price increase is more significant. On December 12th, the market freight rate (including shipping and additional charges) for exports from Shanghai Port to basic ports in the Mediterranean was $2,737 per TEU, up by 19.0% compared with the previous period.
It is reported that the 52nd week of the Dongdong MSK container has already collapsed, and we can only wait for the leaky container. The HPL ship will collapse at the end of the month, and the PA alliance can be booked in the latter half of the month. For small heavy containers and chemical products, it is necessary to reserve the space in advance.
Dexemc continues to be exempt from the small container overweight fee. MSC has been frequently changing ships recently, which makes it prone to port changes and container overloading. The low-price container space offered by the PA alliance requires advance booking (and is prone to overloading).
Furthermore, just like the European routes, the Mediterranean routes also need to pay attention to the impact of strikes on ports in the near future.
On the North American route, although the overall demand has not improved yet, due to the announced increase in market freight rates at the end of the year, the spot market booking prices have risen. On December 12th, the basic port freight rates (including shipping and additional charges) for exports from Shanghai to the West and East coasts of the United States were $1,780 per FEU and $2,652 per FEU respectively, increasing by 14.8% and 14.6% compared to the previous period.
Industry analysts say that currently, many US shipping lines have adopted strategies such as canceling port calls or running empty voyages. There will be no PCC1 vessel calls in the US West Coast for 51 weeks, and there will be no PA alliance vessel calls in the US East Coast for one week. The shipping companies are hoping to increase shipping freight rates in the near future.
The freight rates for the Persian Gulf route have continued to rise steadily. On December 12th, the basic freight rate (including shipping and additional charges) for exports from Shanghai Port to the major ports in the Persian Gulf was $1,881 per TEU, an increase of 5.6% compared to the previous period.
At present, there is a shortage of shipping space on the Persian Gulf route. Most shipping companies do not accept heavy cargo or charge extra for overweight.
The freight rates for the Australia-New Zealand route market continued to decline. On December 12th, the basic freight rate (including shipping and additional charges) for exports from Shanghai Port to the basic ports in Australia and New Zealand was 1,241 US dollars per TEU, down by 2.7% compared with the previous period.
At present, there is a relatively sufficient supply of shipping space on the Australia-New Zealand route, and the freight rates are showing a slight downward trend.
The demand for the South American route has been weak, and the booking prices in the spot market continue to decline. On December 12th, the basic port freight rate (including shipping and additional charges) for exports from Shanghai to the major ports in South America was $1,486 per TEU, down 12.0% compared to the previous period.
Recently, the cargo volume on the South American West and South American East routes has been insufficient and the freight rates have dropped. It is expected that there will be an increase in rates by the end of the month.
The Japanese shipping market for passenger and cargo transportation is generally stable, and the market freight rates remain stable. On December 12th, the freight rate index for China's outbound shipping to Japan was 960.90 points.
Please note to all shippers and freight forwarders: Keep track of the price trends of each shipping route. Before shipping, please check the latest shipping schedules and price information and make a detailed shipping plan in advance.