45.5%! Freight rates from Shanghai to Europe rise sharply
According to the Shanghai Shipping Exchange, last week, due to the threat of armed attacks in the Red Sea region, freight rates in the Asia-Europe shipping market rose sharply, driving the composite index higher.
On December 22, the Shanghai Export Container Comprehensive Freight Index released by the Shanghai Shipping Exchange was 1254.99 points, an increase of 14.8% from the previous issue.
On European routes, the European economy has recently shown signs of stabilization and recovery, but sudden tensions in the Red Sea region have disrupted the transportation market.
Currently, most container liner shipping companies operating Asia-Europe routes have announced detours. This will lead to a significant increase in shipping distance and cost, as well as a decrease in ship turnover efficiency, causing the Asia-Europe route to face tight capacity in the short term.
Last week, major airlines significantly increased their market quotations, and spot booking prices for European routes rose immediately. In the future, the geopolitical situation will become a key factor affecting the Asia-Europe route transportation market.
On December 22, the market freight rates (sea freight and sea freight surcharges) exported from Shanghai Port to European and Mediterranean basic ports were US$1,497/TEU and US$2,054/TEU, up 45.5% and 30.9% respectively from the previous period.
According to a report released by the Ningbo Shipping Exchange on December 22, 85% of container ship liner companies have notified them to suspend cargo pickup on the Red Sea route.
Affected by this, it is difficult to find a cabin on a few flights, and the market booking freight rate has jumped sharply. The Red Sea route index released by the Ningbo Shipping Exchange also rose 161.9% from last week to 3649.5 points.
Sunny Worldwide Logistics We offer China-Europe freight trains and air freight as an alternative to sea freight. It usually takes more than 20 days to reach Europe by sea, and it takes about 10 more days after detouring around the Cape of Good Hope. It usually takes about 16 days to arrive via the China-Europe freight train, and the cargo transportation time can be shortened by 20 days compared with sea transportation.