News
China export container market generally kept slide in the week to November 4. Rates for most major trades excluding the Australia service continued to plunge.
The China Containerized Freight Index （CCFI） issued by Shanghai Shipping Exchange （SSE） on Friday was reported at 945.37 points, down 0.7 from the previous week while the Shanghai Containerized Freight Index （SCFI） issued by SSE went down by 1.4% to 919.44 points.
The box volume slump extended to this week on the European service and the rate tumbled as the approach of the tradition slack season. The lowest rate had fallen back below $500/TEU barrier, which forced more carriers to adjust capacity.
On November 4, the CCFI of China/Europe service issued by SSE was reported at 1,001.46 points, down 1.8% from the previous week.
No recovery in volume was seen on the Mediterranean service and rate plummeted further this week. On November 4, the rate index of this trade issued by SSE slumped by 2.7% to 1,227.31 points.
In the pacific trades, the freight indices of the US west coast service and the US east coast service issued by SSE on Friday were reported at $1,500/FEU and $2,794/FEU, respectively up by 0.54% and down by 2.6% from the previous week.
The container volumes was flat on the Japan service last week where the average slot utilization was around 70% and the rate remained almost unchanged at 797.45 points from the previous week's 799.62 points.
As for the Australia and Singapore service, the average slot utilization continued to rise this week due to the capacity withdrawal as well as the Christmas goods export rush. In some cases, ships were even full-loaded. The rate （ocean freight plus surcharges） for the voyages from Shanghai to the base ports of Australia and Singapore issued by SSE climbed by 3.7% to $821/TEU.
