News
Container traffic between South Korea and China was brisk in the first half of 2021. A total of 1,705,842 TEUs were moved in January-June, up 10.94% from the corresponding six months of the previous year, according to statistics compiled by the Yellow Sea Liner Shipping Council (YSLSC).
Containers traded locally between the countries marked a double-digit increase, surging 12.53% to 1,590,006 TEUs, but shipments moved in feeder operations were not robust, shrinking 7.06% to 115,836 TEUs.
Exports from South Korea to China amounted to 631,223 TEUs, up 7.23%, which comprised 579,077 TEUs of those traded locally, up 5.95%, and 52,146 TEUs of those carried in feeder services, up 23.82%. Inbound containers from China to South Korea accounted for the balance of 1,074,619 TEUs, up 13.24%. Local shipments soared 16.68% to 1,010,929 TEUs, but feeder containers waned a notable 22.82% to 63,690 TEUs.
Spot Rates from Shanghai Keeps Moderate Increases
Spot rates for container exports from Shanghai to Europe and the Mediterranean hiked 1.5% to $7,127 per TEU and 1.0% to 6,961 per TEU, respectively, in the week ended on July 23, according to the Shanghai Shipping Exchange (SSE).
The average load factor of container carriers from the Chinese port to North America was quite high, as many were fully loaded, which lifted rates to the east and west coasts 1.0% to $ 9,850 per FEU and 1.0% to $5,388 per FEU, respectively.
Demand continued to rise on other routes as well. Freight rates increased 3.2% to $3,481 per TEU on the Middle East Gulf trade and 5.5% to $3,002 3,168
per TEU on the Australia and New Zealand trade. On the South America route, rates edged up 1.2% to $9,498 per TEU.
On the trade route to Japan, containers were transported at $282 per TEU to Kansai and $280 per TEU to Kanto, which fell 1.7% and 1.4%, respectively.
