Up 6.6%! The four major routes continue to decline, but only its volume and price rise
Recently, freight rates on most ocean routes have continued to decline. According to the latest SCFI comprehensive index of Shanghai Shipping Exchange, the freight index fell slightly by 2.3% to 1732.57 points.
Among them, European routes have gradually subsided due to the previous geopolitical situation, and prices in the European shipping market continue to fall. At present, the market volume is gradually stabilizing, and the relationship between supply and demand is generally balanced.
SCFI's latest market freight rate (sea freight and sea freight surcharges) exported from Shanghai Port to European basic ports was US$1,943/TEU, down 1.4% from the previous period. The market freight rate of the Mediterranean route fell by 3.0% from the previous period to US$2,887/TEU.
On North American routes, the space utilization rate of each flight ranges from 90% to 95%, and some flights are fully loaded. In order to increase the loading rate, shipping companies still focus on lowering prices to solicit cargo, and spot booking prices for routes have fallen.
The market freight rates (shipping and shipping surcharges) exported from Shanghai Port to the basic ports in the West and East of the United States were US$3,621/FEU and US$4,842/FEU respectively, down 4.1% and 7.8% respectively from the previous period.
On the Persian Gulf route, since the relevant destinations have entered Ramadan, there will be a large consumer demand during Eid al-Fitr. Considering the transportation cycle, some freight demand has already begun.
Recently, the cargo volume in the Persian Gulf market has rebounded slightly, and some shipping companies have slightly raised freight rates. The freight rate exported from Shanghai Port to the basic port of the Persian Gulf increased by 6.6% from the previous period, reaching US$1,503/TEU.
Eid al-Fitr is one of the most important holidays in the Muslim world. This year's Eid al-Fitr is expected to start on the evening of April 10th and end on the evening of April 11th.
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