Freight rates ended an 8-gain streak! Euroland routes slide to the top, US routes remain strong, up slightly

European shipping rates soared nearly two times after the correction, the latest SCFI Containerized Freight Index shows that Europe, the Mediterranean route tariffs fell 5.58%, 4.03%, affected by the Red Sea crisis pushed up the tariffs since the first decline in the price rise, SCFI terminated the eight consecutive up, 27 days out of the latest issue of the SCFI tariffs index turned down 60.52 points to 2179.09, the weekly decline of 2.7%. Weekly decline of 2.7%.

In contrast, the U.S. routes are still firm. From Shanghai to the U.S. East and the U.S. West per 40-foot container rates rose 2.13% and 2.41%, although the rate of increase slightly narrowed. Forwarding industry sources revealed that, according to tradition, near the Asian Lunar New Year period, shipments will gradually reduce, and freight rates are expected to fall.

According to forwarder sources, THE alliance has taken the lead in taking action on the 26th, announcing the suspension of peak season surcharge of about $600, a measure that will be reflected in next week's offer.

Specifically, the European route tariffs are affected by the Red Sea incident, many bypassed container ships will return to Asia one after another in mid-February, and some carriers began to lower prices and stockpile goods in preparation for the New Year's Eve period with 2 to 3 weeks after the New Year shipments. With the increase in supply, after the New Year, the European routes to receive prices began to decline. As the European route tariffs have previously soared two times, this week a small drop of 5.6%, the industry believes that this is the normal shipping market.

According to the latest issue of the freight index, the Far East to Europe's freight rate per TEU (20-foot container) for 2,861 U.S. dollars, down 169 U.S. dollars from the previous week, a drop of 5.6%; Far East to the Mediterranean Sea's freight rate per TEU for 3,903 U.S. dollars, down 164 U.S. dollars from the previous week, a drop of 4.0%.

At the same time, North American routes remain hot. Logistics industry insiders pointed out that the demand for North American lines is stronger than the industry expects, and the supply of ships is still tight. starting in February, prices are still rising, only the rate of increase has been converged.

With the upcoming Lunar New Year in Asia, many shippers were eager to ship in early February, and market volume remained high. The average bunker utilization rate at Shanghai port was around 95%, with some of the flights fully loaded, and carriers quoted more up than down. Freight rates continued to strengthen this week, up 2%.

Specifically, the rate per FEU (40-foot container) from the Far East to the U.S. West was US$4,412, up US$92, or 2.1%, compared with the previous week; the rate per FEU from the Far East to the U.S. East was US$6,413, up US$151, or 2.4%, compared with the previous week.

The latest DELUXE WCI Composite Freight Index rose 5% this week to $3,964 per 40-foot container, up 94% compared to the same week last year. Rises on all major routes were tempered.

Freight rates from Shanghai to Los Angeles soared 13 percent, or $484 per 40-foot container, to $4,344. This was followed by a 9% rise in freight rates from Shanghai to New York, or US$499 per 40-foot container, to US$6,143. Shanghai to Rotterdam and Shanghai to Genoa rates rose slightly by 1% to $4,984 and $6,365 per 40-foot container, respectively. Drewry expects spot rates to stabilize or decline in the coming weeks.

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