News
The China containerized transport market as a whole remained almost unchanged last week, with a slight swelling in ocean cargo demand. On April 1, the China Containerized Freight Index (CCFI) issued by the Shanghai Shipping Exchange remained almost the same level as last week at 1016.25 points; while the Shanghai Containerized Freight Index (SCFI) came out at 1012.63 points, up 2.3% from the previous week.
In Europe and Mediterranean service, the massive new-deployed capacity lowered the freight rate, as on April 1, and the CCFI of the Europe and Mediterranean services issued by SSE was 1287.52 points, down 2.5% from the previous week. Insiders indicated that more fleets would be arranged in the service in April, so the rally is very likely be restrained if the demand couldn't maintained the current upward momentum.
In North America service, the cargo volume kept the trend in last week, and the average slot utilization reported at about 80%. Freight rate was slightly volatile. On April 1, the freight rate (ocean freight plus surcharges) for the voyages from Shanghai to base ports in US west coast and US east coast were US$1,631/FEU and US$2,905/FEU, up 1.4% and 3.1% from a week before, respectively. The conventional peak season on the North America service in 2nd quarter is approaching, while the rate restoration plans are approaching as well.
In Japan service, the demand ascended a little. The power brownouts over the Japan and the insufficient fuel continued hampering the port operations and the inland box transports. Carriers had already imposed a PCS (Port Congestion Surcharge) for some of the voyages from Shanghai to Kanto, buoying the freight rate. On April 1, the freight rate index of the Japan service reported 806.82 points, soared 2.7% from the previous week.
