Freight rates have risen for two consecutive weeks, with the U.S. line continuing to rise, the European line turning down, and the cumulative increase in the Persian Gulf route reaching 200%.

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Affected by multiple factors such as continued global geopolitical tensions, rising fuel costs and shrinking capacity on some routes, the current container shipping market is showing obvious structural differentiation. The latest Shanghai Export Container Freight Index (SCFI) rose for the second consecutive week to 1854.96 points, an increase of 28.19 points or 1.54% from the previous week. However, looking at routes, North American routes continued to rise, while European and Mediterranean routes fell back.

Data show that the freight rates for the Far East to West America route increased slightly by 0.3%, and the Far East to East America route increased by 2.76%; in comparison, the European route fell by 3.11%, and the Mediterranean route fell by 2.89%. Industry insiders pointed out that this pattern of "the United States is strong and Europe is weak" reflects the current uneven pace of global trade demand recovery, with the North American market being relatively more resilient.

It is noteworthy that the Persian Gulf route has become the focus of this round of freight rate increases. The route's single-week increase reached 6.68%, and the freight rate per 20-foot container climbed to approximately US,977. If compared with the level of approximately US,327 on February 27 (before regional tensions escalated), the cumulative increase is close to 200%. The market generally believes that the drastic fluctuations in this route are mainly affected by factors such as rising regional security risks, shipping companies adjusting routes, and reducing the supply of effective shipping capacity.

In terms of North American routes, spot market freight rates have continued to rise for two consecutive weeks. According to feedback from people in the freight forwarding industry, the current reference price per 40-foot container on the US West Route is about US,525, and the US East Route is about US,525. Although there are still special-priced cabins on some voyages due to differences in loading rates, the overall price has basically stabilized in the rising range.

It is currently the annual long-term contract signing season for U.S. lines. Against the background of high oil prices, shipping companies are using a variety of means to support freight rates. On the one hand, many airlines have announced the addition of emergency fuel surcharges (EBS) to hedge against rising fuel costs; on the other hand, they have stabilized market supply and demand by increasing "empty" flights, especially by reducing capacity in the US-Eastern direction. Market news shows that Mediterranean Shipping Co. plans to raise the U.S. line freight rate again on April 8, with an increase of approximately US0 per 40-foot container. In addition, some shipping companies also plan to introduce an inland fuel surcharge (IFS), which is expected to take effect in mid-April to cover the pressure of rising diesel costs in the multimodal transport link.

From the demand side, as the country fully resumes work and production after the holiday, export volume is gradually picking up. Many shipping companies, including Yang Ming Shipping, said that ship loading rates on European and American routes have continued to improve since mid-March, providing certain support for freight rates. However, the industry generally believes that the current market cargo volume has not yet been fully released, and the increase in freight rates is more driven by cost-side and supply-side factors - rising fuel prices, rising safety risks in key waterways, and the reduction of some transport capacity due to detours or hedging, which together constitute the core logic of this round of upward movement.

Looking ahead to the market outlook, the shipping industry is generally optimistic. It is expected that under the dual support of cost pressure and shrinking capacity, freight rates will still have room to increase by about 7% to 10% in early April; and as demand is further released, it cannot be ruled out that the market will usher in a new round of gains in late April. Overall, the current container shipping market is in the stage of "early recovery of demand cost-driven increase", with obvious regional differentiation, and freight rates are expected to remain high and volatile.