Strong market demand superimposed on the Red Sea crisis and port strikes brought about by the capacity gap, to promote container ship rates continue to rise, the Shanghai Export Container Freight Index (SCFI) rose for 12 consecutive weeks to a new high.
According to the latest data released by Shanghai Shipping Exchange on 28th June, the SCFI index rose 238.72 points to 3714.32 points last week, setting a new high since late August 2022, with a weekly increase of 6.86%, and the tariffs of the four major ocean shipping routes continued to rise.
Last week, the tariff per FEU on the Far East to U.S. West line rose by US$657 to US$7,830, a weekly increase of 9.15%; the tariff per FEU on the Far East to U.S. East line rose by US$997 to US$9,274, a weekly increase of 12.04%; the tariff per TEU on the Far East to Europe line rose by US$544 to US$4,880, a weekly increase of 12.5%; and the tariff per TEU on the Far East to Mediterranean line rose by US$532 to US$5,387, a weekly increase of 6.86%; all four major ocean routes continued to rise. USD 532 to USD 5,387 per TEU on the Far East to Mediterranean line, a weekly increase of 10.95%.
In the near-oceanic line, the tariff per TEU from the Far East to Kansai, Japan was flat compared to the previous week at US$293; the tariff per TEU from the Far East to Kanto, Japan was flat compared to the previous week at US$299; the tariff per TEU from the Far East to Southeast Asia was up by US$4 compared to the previous week at US$743; and the tariff per TEU from the Far East to South Korea was up by US$3 compared to the previous week at US$172.
Industry analysis pointed out that the current two major factors are not resolved, will continue to impact the global container ship supply and demand changes. First, the Red Sea crisis led to the ships were forced to bypass, the global container ship supply and demand reversal; Second, the ongoing U.S. East labour negotiations have been inconclusive, the U.S. East terminal slack pressure burst, the market supply and demand is seriously imbalanced.
Looking ahead, the industry pointed out that the third quarter will enter the traditional European and American transport demand season, coupled with the trade war, tariff war, Chinese manufacturers have to ship in advance to cope with the European and American retailers worried about the Red Sea crisis delayed deliveries are also pulling up inventories, at present the European and American line cabin space has been full to the end of July, predicted that the trend of the tariffs continue to upward chances are great.
In addition, the shipping company in May and June has been pushing the price increase success, July 1 from the U.S. West line per FEU shouted up 1,000 U.S. dollars, the European line shouted up 1,000 to 1,200 U.S. dollars, the U.S. East line shouted up 2,000 U.S. dollars.
However, the market also rumours that the Mediterranean Shipping, Duffy Shipping and many other shipping companies will launch overtime ship in July, in addition to Duffy for European customers to provide preferential tariffs, the impact of the tariff increase remains to be seen.
https://www.cnss.com.cn/html/hygc/20240702/353957.html
|
Back:
Next:
