Is Shanghai's "retaliatory" shipment coming? Shanghai export freight rates rise for 4 consecutive weeks

Since the full resumption of work and production in June, the volume of goods at the Shanghai port has continued to rebound.

Data show that since June 1, the cargo volume of Shanghai's sea and air ports has basically recovered to more than 90% of the normal level. In terms of shipping, since June, the daily container throughput of Shanghai Port has exceeded 119,000 TEUs.

"In the past, ships were waiting for goods, but now they are waiting for ships." Some people from import and export enterprises commented. There are also industry insiders who judge that the "retaliatory shipping tide" has come.

However, there are also relevant persons from import and export enterprises, shipping companies and container road transport enterprises, who told the reporter of China Shipping Gazette that they did not notice an increase in the volume of goods, and the market situation needs further observation.

It is worth noting that the freight rate in the container shipping market has continued to rise recently after falling for several months.

According to the Shanghai Composite Container Freight Index (SCFI) released by the Shanghai Shipping Exchange, from May 20 to June 10, SCFI has risen for 4 consecutive weeks, with a cumulative increase of 2%. As of June 10, the SCFI was 4,233.31 points, up 0.6% from a week earlier.

SCFI trend

Analysts from Shanghai Shipping Exchange said that as the transportation authorities continued to actively guide and support relevant port and shipping companies to resume normal production and operation, the recovery of Shanghai Port was good, and the export container transportation market remained stable.

In terms of routes, on June 10, the freight rate (shipping and shipping surcharges) of Shanghai Port to the basic port market in South America was US$7,216/TEU, up 7.7% from a week ago; the freight rate of Shanghai Port to the basic port market of the Persian Gulf (shipping and shipping surcharges) was US$3,267/TEU, up 7.5% from a week ago; the freight rate (shipping and shipping surcharges) for exports from Shanghai Port to the basic port of Australia and New Zealand was US$3,405/TEU, up 1.7% from the previous issue.

In addition, the freight rates of main routes in Europe and America remained stable.