News
The Shanghai Stock Exchange announced its China Shipping Containerized Freight Index for the week to May 28 was 1128.62 points and the new Shanghai Containerized Freight Index was 1472.90 points, slightly up by 0.3% and 1.9% respectively from the previous week.
On the trade from China to Europe and the Mediterranean, the freight index was almost flat at 1767.81 points and 1,860.37 points respectively last week. Despite the recent significant growth in volume, the current shortage of available capacity in the market results from the initiatives of shipping lines to reduce space. The input of laid up capacities coupled with ''European debt crisis'' would have a negative impact on the European market in the second half of the third quarter, and the demand - supply balance in the trade would most likely be broken again, the Shanghai Stock Exchange warned.
On the transpacific trade, the freight (shipping and maritime surcharges included) stood at $2,587 per FEU for cargo moving from Hong Kong to the U.S. West Coast and $3,695 per FEU to the East Coast, up $56 and $36 respectively from the previous week.
On the China - Japan route, the market continued stable while an average space utilization was below the 70 percent mark. The freight (shipping and maritime surcharges included) remained unchanged from the previous at $322.
