Houthi's action makes the tariffs continue to rise, and there is no sign of falling back for the time being. At present, the four major routes and Southeast Asian routes all show an upward trend in freight rates ......
After the outbreak of a new round of Israeli-Palestinian conflict in October last year, the Houthis in Yemen used drones and missiles to attack targets in the Red Sea waters several times, and at the beginning of May, the Houthis in Yemen said that they would expand the scope of strikes in the Red Sea, the Arabian Sea, the Indian Ocean and the Mediterranean Sea to strike at all the ships of the companies that have had dealings with the Israelis over the past few months, regardless of the nationality of the ships and the target ports.
In addition to the Houthis' attacks on merchant ships sailing in the Red Sea and Arabian Sea becoming more frequent and precise, the recent oil spills from ships, strikes in several European and American ports, and port congestion have added many variables to the global maritime market.
Vessel detours, high demand and port congestion have led to a further lack of capacity, and the threat of strikes in several major ports has exacerbated tensions in the global supply chain and continued to push up freight rates.
The first freight rate broke 10,000 routes appeared
Recently, the global container shipping market continues to show a strong upward trend, the peak season effect significantly pulled the rate of increase. According to the 28th the latest issue of Shanghai Export Container Freight Index (SCFI) shows that the weekly rate of increase of up to 6.87% reached 3714.32 points, and has been 12 consecutive weeks of rise.
In the major routes, last week's mediocre performance of the European routes again showed a strong upward trend, freight rates rose 12.5%. At the same time, the Mediterranean route and the U.S. East route tariff weekly increase of more than 10%. Among them, the European route tariff rose 12.55% broke through 5000 U.S. dollars / TEU barrier, the U.S. East route tariff rose 12.05% broke through the 9000 U.S. dollars / FEU mark.
As the third quarter enters the traditional peak season of transport demand in Europe and the United States, coupled with the impact of trade friction and tariff increases, exporters have shipped in advance to cope with market changes. At the same time, European and American retailers are also worried about the Red Sea crisis delayed delivery also pulled up the inventory, resulting in the current European and American line of the cabin is full and booked until the end of July.
Shipping companies have successfully pushed up freight rates in May and June.
Large freight forwarders revealed that from 1 July, in addition to the U.S. East route due to the dockworkers' strike crisis led to tariffs rose by $ 2,000, the U.S. West and European routes are increased by $ 1,000-1,200 per TEU. Mediterranean routes are mostly unchanged at $7,000 per TEU. However, it is expected that in the next wave of price increases on 15 July, the rate of increase in the U.S. West may be loosened.
A number of forwarders pointed out that, according to the July 1 price increase plan, the U.S. West Route tariffs will rise from $ 7100-7400 to $ 8100-8400, the U.S. East Route will rise from $ 8300-8400 to $ 10,300-10,400, becoming the first tariffs break the 10,000 yuan of routes.
European routes will rise from $7,500 to $8,500, while Mediterranean routes are expected to remain at around $7,000, perhaps with some carriers increasing slightly by $200-300.
However, the market has also rumoured that Mediterranean Shipping, Duffy and many other shipping companies plan to launch extra ships in July, and Duffy provides preferential tariffs for large European customers; at the same time, some of the shipping companies that have withdrawn from the European and American routes after the outbreak have also begun to return to the route.
Therefore, the industry estimates that the original plan on July 15 to the United States and Europe route per big box rose another $1,000 to $2,000 plan may be difficult to achieve.
The shipping company to the United States West route of the long contract customers to provide a limited number of cabinets per week price has been relaxed, and even some shipping companies predicted that the European route by then the tariffs can only rise 200-300 U.S. dollars. In short, the impact of many factors on the mid-July tariff trend remains to be seen.
The latest issue out of the freight rate:
Far East to Europe freight rate reached 4880 USD/TEU, soaring 544 USD compared with last week, a weekly increase of 12.55%;
Far East to Mediterranean tariffs reached 5,387 USD/TEU, up 532 USD or 10.96% from last week.
Far East to U.S. West tariffs reached $ 7830 / FEU, up $ 657 from last week, up 9.16%;
Far East to U.S. East tariffs reached $9,274/FEU, up $997 or 12.05% from last week.
Persian Gulf line rate of US$2,711 per FEU, a weekly drop of US$182, or 6.29%;
South America line (Santos) per container tariff 8,854 U.S. dollars, up 296 U.S. dollars per week, or 3.46 per cent;
Southeast Asia line (Singapore) per container tariff 743 U.S. dollars, up 4 U.S. dollars, or 0.54 per cent.
Now the supply of spot space is still tense, continue to push up the freight rate, the recent shipment plan or to make preparations!
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