The peak demand period has passed? Freight rates continue to fall! European and North American routes have experienced significant declines!
According to a report released by the Shanghai Shipping Exchange, freight rates on most routes continue to fall. The latest Shanghai export container comprehensive freight index is2726.58points, down from the previous period8.0%. The downward trend is more pronounced on routes from Asia to Europe and the Mediterranean.
According to a report released by the Shanghai Shipping Exchange,9moon6On the day, the market freight rate of exports from Shanghai Port to European and Mediterranean basic ports(Ocean freight and ocean freight surcharges)respectively3459Dollar/TEUand3823Dollar/TEU, respectively decreased from the previous period10.8%and6.4%.
Drewryglobal container index(WCI)Show, Shanghai this week-Rotterdam route per40ft. container freight rates fell by nearly1000US dollar declines month-on-month14%;ofXSIFreight rates on Asia-Europe routes have dropped10%, to every40ft. container6843Dollar.
at the same time,WCIShanghai-Spot rates on Genoa route reduced12%, to every40ft. container5842Dollar;FreightosBaltic Index Asia-Mediterranean routes also declined12%, to every40ft. container6274Dollar.
-A European freight forwarder said:"The market has shifted and spot freight rates are falling rapidly.
The main challenge currently facing shipping companies is slowing demand. While shipping lines have responded to growing demand on Asia-Europe routes by adding capacity at the Cape of Good Hope, demand appears to have peaked,5Yuehe6The monthly booking frenzy is a thing of the past.
according toCTSdata,7The monthly freight volume from the Far East to Europe was158Ten thousandTEU,and6month175Ten thousandTEUreduced by nearly20Ten thousandTEU.
7In March, freight volume from Northeast Asia to Northern Europe decreased month-on-month.7.6%, a year-on-year decrease14.2%:Freight volume from China to Northern Europe decreased month-on-month3.9%, but still increased year-on-year7.9%.
The European freight forwarder said:"7Export volume from Asia and Europe reached its peak at the end of the month. expected8The monthly data will show further month-on-month decline,9Demand also looks weak in March. As the National Day Golden Week approaches, shipping companies’ sailing suspension plans will increase. This may be the only way for shipping companies to slow down the decline in freight rates."
Hapag-Lloyd announced that it will40to42Five Asia-Europe sailings were canceled this week, and in the40and41Three Asia-Mediterranean voyages were canceled last week.FreightosThe chief analyst said:"For shipping in Northern Europe and the Mediterranean, the cargo arrival window is closing, taking into account the longer voyage around southern Africa and the impact of China's upcoming Golden Week, which has alleviated demand pressure to a certain extent. Although shipping costs from Asia to Northern Europe are still2019five times the year, but with7Compared with the monthly peak, freight rates have now dropped."
In addition, freight rates on transpacific routes are also falling. According to data released by the Shanghai Shipping Exchange,9moon6On the same day, Shanghai Port exports to the basic port market freight rates in the West and East United States.(Ocean freight and ocean freight surcharges)respectively5605Dollar/FEUand7511Dollar/FEU, respectively decreased from the previous period8.7%, 11.0%.
Rates on the Asia-to-North America route are still trending downward, despite the looming threat of strikes by dockworkers on the East Coast and Gulf Coast and analysts predicting a surge in cargo volumes and spot rates at West Coast ports.
According to previous reports by foreign media, a new price war seems to be breaking out on the eastbound trans-Pacific route, and many non-alliance shipping companies are slashing prices to increase utilization.
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