News
The Shanghai Containerized Freight Index for Week 26, unveiled on July 5 by the Shanghai Shipping Exchange (SSE), stood at 810.91 points, down 2.3% from the previous week.
On the Europe trade, transport demand only grew minutely, although the peak season for shipment had already set in. In addition, the deployment of mega container ships led to tonnage oversupply. As such, spot rates for containers from Shanghai, not including terminal handling charges (THCs), were $688 per TEU, down 1.9%. Freight rates went down on the Mediterranean route, too, falling 2.9% to $705 per TEU, as carriers strived to do so.
On the transpacific trade, the average load factors exceeded 95% of ships from Shanghai to both the west and east coasts. Nevertheless, freight rates declined, although they had improved earlier. Those for services destined to the west coast were $1,649 per FEU and to the east coast, $2,764 per FEU, which decreased 4.1% and 0.9%, respectively.
On the Mideast Gulf route, freight rates waned 0.3% to $782 per TEU, as political tension was running high in the region.
On the Australia/New Zealand trade, demand for transport hiked mildly, and at the same time, operators endeavored to control tonnage supply. The supply-demand balance improved as a consequence, lifting freight rates 16% to $348 per TEU.
On the South America route, container movement fluctuated at high levels, but many shipping lines adjusted freight rates to enlarge their market shares. As a result, they plunged 10.9% to $2,104 per TEU.
On the route to and from Japan, freight movement was stable, leading to fare stability. Rates for shipments to and from Kansai increased 0.4% to $234 per TEU and to Kanto, unchanged at $234 per TEU.
