Weekly Report on China's Export Container Transport Market (2024.01.26)
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2024-01-27 00:00
Geographical influence gradually digested
Overall freight rates have fallen.
This week, the situation in the Red Sea region is still in a state of tension and has lasted for a long time. The impact of the incident on the shipping market is gradually being digested, and the overall performance of China's export container transportation market tends to be stable. With the approach of the Spring Festival holiday, the overall transportation demand of the market has a weakening trend, and the prices of some ocean routes with large increase in freight rates in the early stage have fallen.On January 26, the Shanghai Export Container Composite Freight Index released by the Shanghai Shipping Exchange was 2179.09 points., down 2.7 per cent from the previous period.
European RoutesThe Asia-Europe route is still facing the test of the geographical situation, the main shipping companies choose to detour, the detour route to avoid canal tolls and high insurance costs, and through the canal route cost difference gradually narrowed, the shipping market by the Red Sea situation gradually digested. This week, most of the shipping spot market booking prices slightly retreated, market freight rates fell. On January 26, the market freight rate (sea freight and sea freight surcharge) for exports from Shanghai Port to European basic ports was US $2861/TEU, down 5.6 per cent from the previous period. Mediterranean routes, the market situation is basically similar to the European routes, spot market booking prices fell. On January 26, the market freight rate (sea freight and sea freight surcharge) for exports from Shanghai Port to the Mediterranean basic port was US $3903/TEU, down 4.0 per cent from the previous period.
North American RouteThe composite PMI index released by Markit in January was 52.3, which was better than expected and the previous value, indicating that the US economy still maintained a good growth momentum. This week, transport demand was generally stable, and market volumes remained high. The average utilization rate of shipping space in Shanghai port is about 95%, some flights are fully loaded, the quotations of airlines rise and fall less, and the spot booking price of routes rises. On January 26, the market freight rates (sea freight and sea freight surcharge) for exports from Shanghai Port to the US West and the US East were US $4412/FEU and US $6413/FEU respectively, up 2.1 per cent and 2.4 per cent respectively from the previous period.
Persian Gulf RouteThe destination market is relatively small, and transportation demand lacks upward momentum. This week, with the impact of emergencies on the route transport market gradually subsided, route freight rates in the previous sharp rise, continue to undertake last week's downward trend, spot market booking prices fell again. On January 26, the market freight rate (sea freight and sea freight surcharge) for exports from Shanghai Port to the basic port of the Persian Gulf was US $1662/TEU, down 16.1 per cent from the previous period.
Australia and New Zealand routesThe volume of goods in the transportation market is generally stable, the market supply and demand situation remains good, and most shifts are at full load level. This week, the market quotations of various carriers rose and fell, and the spot booking price of the route rose slightly. On January 26, the market freight rate (sea freight and sea freight surcharge) of Shanghai Port to Australia and New Zealand basic port was 1266 USD/TEU, up 0.6 per cent from the previous period.
South American RouteTransport demand remained stable, with overall volumes fluctuating slightly and spot market booking prices falling again. On January 26, the market freight rate (sea freight and sea freight surcharge) for exports from Shanghai Port to the basic port of South America was US $2666/TEU, down 1.8 per cent from the previous period.
Japan routeTransport demand was basically stable and market freight rates remained stable. On January 26, the freight index of China's exports to Japan was 807.61 points.
-- Shanghai Shipping Exchange Deng Kai--
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