4 consecutive losses! Global freight rates fell collectively, with this route falling by 19%

Recently, the Shanghai Export Container Comprehensive Freight Index (SCFI) released by the Shanghai Shipping Exchange was 1885.74 points, falling for four consecutive weeks and down 4.7% from the previous period.

Image source: Shanghai Shipping Exchange Intrusion and deletion

Freight demand on European routes is weak, and the market freight rate (sea freight and sea freight surcharges) exported from Shanghai Port to European basic ports fell 6.3% from the previous period to US$2,134/TEU. The situation on the Mediterranean route is similar, with the freight rate at US$3,138/TEU, down 4.7% from the previous issue.

Freight rates in the North American route market also continued to fall, with freight rates for the West Coast and East America being US$4,039/FEU and US$5,608/FEU respectively, down 5.2% and 2.4% respectively from the previous period.

In the Persian Gulf route, as the local area is about to enter Ramadan, the market freight rate fell back last week, falling 6.8% from the previous period to US$1,599/TEU.

For South American routes, transportation demand lacked momentum for further growth, and market freight rates fell slightly. On March 8, the market freight rate (shipping and shipping surcharges) exported from Shanghai Port to South America's basic ports was US$2,596/TEU, down 1.1% from the previous period.

It is worth noting that the freight rate on the Australia-New Zealand route fell 10.3% from the previous period to US$1,016/TEU.

According to news from the Ningbo Shipping Exchange on March 8, the Ningbo Export Container Freight Index (NCFI) closed at 1315.7 points, down 9% from the previous week.

The freight index of only one of the 21 routes increased, while the freight index of 20 routes fell. Among them, the South American west route market fluctuates greatly.

Data source: Ningbo Shipping Exchange Intrusion and deletion

Although liner companies have maintained a certain proportion of empty flights, the market transportation demand is still insufficient compared with the existing shipping space, and route freight rates have fallen sharply. Last week, the freight index for the Ningbo to South America west route was 768.8 points, down 19%.

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