The US East route has broken through the $5000 mark! Is the shipping company being interviewed? Or will prices gradually increase after mid month?
According to current rumors online, relevant departments have conducted interviews with all shipping companies involved in the US route. After confirmation from multiple sources, major shipping companies have also confirmed that in the face of the recent surge in US freight rates, relevant departments require shipping companies to record their freight rates and further regulate their charging behavior; Simultaneously improve the registration of transportation capacity, routes, and schedules. According to reports, some shipping companies have already made relevant response plans; However, out of respect for the market economy, no department has made mandatory demands not to allow price increases. This news needs further confirmation, everyone is waiting!
According to the data released by the Shanghai Shipping Exchange and Ningbo Shipping Exchange, the peak season market has seen an increase in shipments and the overall consolidation market is improving; The freight rates of most routes, especially ocean routes, continue to rise;
According to NCFI data, the market freight rates for the US East route have exceeded USD 5000/FEU. According to the Lloyd's Daily, due to the increasing demand for trade on the Trans Pacific route, ships from various container shipping companies have been arranged to set sail recently. Moreover, container shipping companies intend to continue increasing their capacity on this route to match rising demand and fully utilize deployed vessels to increase revenue.
The freight rates have skyrocketed, making it difficult to find a box, especially for ships on the Far East to West and East routes, which are almost all in a state of cargo explosion. It is understood that China's export volume has increased recently, while its import volume from abroad has decreased. The cargo volume on outbound routes is much higher than that on return routes. Some shipping companies have switched to operating smaller vessels to avoid empty returns, or multiple shipping companies share the same vessel for shipment, resulting in a continuous decrease in empty containers returning to China. Here is a reminder that there may continue to be a shortage of empty containers in exports in the second half of the year. So everyone should arrange shipment reasonably, notify in advance to arrange booking, and have an expectation and preparation in mind for any subsequent phenomena.
However, it is worth noting that with the arrival of the National Day Golden Week, in order to cope with the downturn after the peak season, shipping companies have announced a large number of idle flights, limiting the deployment of ship capacity in the market. At present, major shipping companies and alliances have successively announced suspension plans. Freight forwarders and shippers are requested to arrange their shipment plans reasonably. (For more details, please refer to the article: After 2M, THE Alliance announces the cancellation of more voyages in October!)
Rising ocean freight rates
The Ningbo Export Container Freight Index (NCFI) of the Maritime Silk Road Index (referred to as the "Maritime Silk Road Index") released by the Ningbo Shipping Exchange closed at 1224.3 points last week, up 14.3% from last week. Out of the 21 route indices, 20 routes have risen while 1 route has fallen. Among the major ports along the Maritime Silk Road, 16 ports experienced an increase in freight rates, while 1 port experienced a decrease in freight rates.
The Mediterranean route is basically synchronized with the European route in the market, with a growth trend in cargo volume and a good supply-demand relationship. The freight rates continued to rise last week. On September 11th, the freight rate (sea freight and sea freight surcharge) for Shanghai's exports to the Mediterranean basic port market was $1115/TEU, an increase of 3.0% from the previous period.
The Ningbo Export Container Freight Index (NCFI) shows that the cargo volume in the European route market is increasing, and cabin space is very tight. Based on good supply and demand fundamentals, most liner companies have announced price increase plans for voyages starting in mid to late. The European route index was 892.2 points, up 13.2% from last week; The index of the eastern route was 821.3 points, up 6.3% from last week; The index of the Dixi route was 924.1 points, an increase of 11.4% from last week.
Nearly 6.64 million cases were confirmed by COVID-19 in the United States, which continues to rank first among countries in the world. Although the epidemic is still spreading rapidly in the United States, the country continues to drive economic recovery. According to a report released by the US Bureau of Labor, the total number of non-farm workers increased by 1.371 million in August, marking the fourth consecutive month of growth. The unemployment rate dropped to 8.4%, marking the fifth consecutive month of decline, indicating an improvement in employment driven by the US economic recovery.
SCFI index: Transportation demand continued to improve last week, with slightly tight supply and demand relations. The average loading rate of ships at Shanghai Port remained above 95%, and some flights were fully loaded and set sail. Supported by good supply and demand, market freight rates continue to hover at high levels. On September 11th, the market freight rates (sea freight and sea freight surcharges) for Shanghai's exports to the West and East US ports were $3813/FEU and $4534/FEU, respectively, an increase of 1.5% and a decrease of 0.1% compared to the previous period.
NCFI index: Prior to the National Day holiday, transportation demand continued to be strong. Cruise companies, out of good expectations for the market, have successively launched a new round of price increase plans for mid to late voyages, and the freight rate level has reached a new high. The freight rate of the US East route market has exceeded USD 5000/FEU. The US East Route Index is 1771.8 points, up 12.7% from last week; The US West Route Index is 2558.9 points, up 14.3% from last week.
NCFI index: Middle East routes: maintaining a healthy supply and demand relationship, liner companies continue to push up spot rates. The Middle East route index is 1131.7 points, up 17.4% from last week.
SCFI index: The average cabin utilization rate of ships at Shanghai Port is over 95%, and some flights are fully loaded for shipment. Airlines have implemented a plan to increase freight rates, resulting in a significant increase in market freight rates. On September 11th, the freight rate (sea freight and sea freight surcharge) for Shanghai's exports to the South American base port market was $2901/TEU, a significant increase of 30.5% compared to the previous period.
NCFI index: The South American East route market fluctuates greatly: transportation demand is rapidly increasing, all routes are fully loaded, and there are incidents of cabin explosions and container dumping, resulting in a continued significant increase in market freight rates. The South American East Route Index is 1802.3 points, up 36.5% from last week.
The transportation on the Japanese route has remained relatively stable this week, with market rates. On September 11th, the freight index for Chinese exports to Japan was 734.34 points.
The changes in the freight index of major ports along the Maritime Silk Road are as follows:
ASEAN region: A total of 5 port freight indices have increased this week, while 1 port freight index has decreased. Among them, the Ningbo (China) - Singapore (Singapore) freight index increased by 10.3% month on month; The Ningbo (China) - Klang (Malaysia) freight index increased by 5.4% month on month; The Ningbo (China) - Ho Chi Minh (Vietnam) freight index increased by 12.3% month on month; The freight index from Ningbo (China) to Bangkok (Thailand) increased by 19.3% month on month; The Ningbo (China) - Linchaban (Thailand) freight index increased by 13.0% month on month; The Ningbo (China) - Manila (Philippines) freight index fell 10.8% month on month.
Europe: The Ningbo (China) - Constanta (Romania) freight index increased by 5.5% month on month.
South Asia: The freight index for two ports increased this week. Among them, the Ningbo (China) - Navasiwa (India) freight index increased by 6.9% month on month; The Ningbo (China) - Pipawawo (India) freight index increased by 9.8% month on month.
West Asia: A total of 5 ports saw an increase in freight rates this week. Among them, the Ningbo (China) - Istanbul (Türkiye) freight index rose 5.7% month on month; The freight index from Ningbo (China) to Aqaba (Jordan) increased by 11.7% month on month; The Ningbo (China) - Jetta (Saudi Arabia) freight index increased by 13.6% month on month; The Ningbo (China) - Dammam (Saudi Arabia) freight index increased by 16.0% month on month; The Ningbo (China) - Dubai (UAE) freight index increased by 18.4% month on month.
North Africa region: The Ningbo (China) - Sokona (Egypt) freight index increased by 12.1% month on month.
Northeast Asia: The freight index for two ports has increased this week. Among them, the Ningbo (China) - Odessa (Ukraine) freight index increased by 5.1% month on month; The Ningbo (China) - Novosibirsk (Russia) freight index increased by 6.1% month on month.
总体来说，跨太平洋地区运费上周继续保持上行趋势，创下历史新高。Alphaliner表示，目前亚洲-美国西海岸贸易的40英尺集装箱的每海里收益是亚欧航线的3倍。在航程较短的情况下，航运公司需要的资源（船舶和设备）较少。传统的远东-北欧航线需要部署大约12艘船，而现在6艘船就足够横跨太平洋西南环线。
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