Lack of cabins and cabinets, freight rates continue to soar! The U.S. line, South Africa and West Africa surged nearly a thousand dollars, up nearly 60 percent in a month.
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2024-06-05 18:59
The early arrival of the peak season on European routes, as well as the need to replenish inventory on the U.S. line, have jointly contributed to another general rise in freight rates across the route.
The latest Shanghai Freight Index (SCFI), released on May 31, surged 12.63 percent to 3044.77 points, rising for eight consecutive weeks and breaking the 3000-point mark in one fell swoop.Among them, the U.S. and African routes have seen the most significant increases. It's up nearly 57 percent in a month.
Specifically, the U. S.-West route freight rates rose nearly a thousand dollars, the weekly increase of up to 18.87 percent, the U. S.-East route freight rates rose 11.17 percent. Freight rates on the Mediterranean and European routes also rose by 11.11 per cent and 9.71 per cent, respectively. It is particularly noteworthy that,US-West and US-East freight rates broke through the US $6000 and US $7000 mark respectively.
On other routes,Freight rates from Shanghai to West Africa, South Africa and South America also rose sharply by $799, $936 and $343, respectively.
Freight forwarding industry insiders said that in addition to the peak season effect in advance, some customers in order to reduce the impact of rising freight rates, choose to ship ahead of schedule, which also increased the volume of shipping. In addition, the United States has imposed tariffs on imported electric vehicles, batteries, computer chips, medical consumables and other products, some of which will take effect on August 1, which has also prompted relevant operators to speed up shipments ahead of schedule.
At the same time, the industry found that in order to avoid tariffs, many enterprises are gradually dispersing their factories to West Africa, South America and other places, which further promotes the increase of transportation demand from the Far East to West Africa and South America, and the price also rises.
Shipping companies have announced price increases from June 1,Among themThe price of the US line is increased by 1000 US dollars per 40-foot cabinet, and an additional peak season surcharge of about 600 US dollars will be charged. The price of the European line is 1200-1500 US dollars per 40-foot cabinet.These changes have been partially reflected in this week's SCFI offer. Due to the frequent shortage of boxes in the market, the industry expects the third quarter.There is a chance that freight rates will remain high.
GoodsOn behalf of the company pointed out that,On June 1, the U.S. and West were about $6400 per large box, the U.S. and East were about $7500, and the European line was about $6300, all of which were already very high freight levels.In Shanghai and Shenzhen, where the cabin shortage is the most serious, the shipping company sent overtime ships in June. COSCO and OOCL also targeted e-commerce companies.The cargo leaves the SEA32 regular route with only a single freight rate (FAK), which is estimated to be a new route scheduled by the continuous delivery of new ships.
The shipping company claims that the current shortage of ships is due to a natural reduction in shifts caused by the ship's detour. However, the freight forwarders pointed out that the shipping companies also deliberately reduced their shifts, otherwise they could not send overtime ships to meet the demand. As for the shipping company's plan to raise freight rates significantly on June 1 and 15, some super-large cargo companies predict that,U.S. officials and shippers' organizations may act to curb soaring freight rates to avoid exacerbating inflationInflation. Therefore, it is estimated that the freight rate in July should be lowered.
SCFI specific offer aspects:
Shanghai to EuropeThe freight rate was $3740/TEU, up $331, or 9.71 per cent for the week;
ShanghaiTo the MediterraneanThe freight rate is $4720./TEU, up $472, or 11.11 percent weekly;
Shanghai to West AmericaThe freight rate is $6168./FIRE, up $979, or 18.87 percent weekly;
ShanghaiTo the East.The freight rate is $7206./FIRE, up $724, or 11.17 percent for the week.
In addition to other routes:
Shanghai to South America(Santos) at $7408 per 20-foot cabinet, up $343;
ShanghaiTo West Africa(Lagos) every 20RulerThe counter freight rate was $6151, up $799;
ShanghaiTo South AfricaEvery 20 of (Durban)RulerThe counter freight rate was $4824, up $936.
an analysis of the current shipping situation by industry insiders pointed out,A chain reaction due to capacity shortages and reduced voyages.First of all, some ports are forced to "jump", causing some supply chains to break, affecting the capacity scheduling of the East, the West and the United States; secondly, there are even "blank flights" in some areas, that is, the originally planned flights are canceled. When the flight resumes again, it will face the problem of container scheduling. In addition, some containers cannot return in time at the unloading port, resulting in a shortage of boxes.
In this case, shipping companies operating ocean routes will prioritize the allocation of containers to countries in Europe, the United States, Central and South America, and the Middle East in order to secure capacity in major markets,This has further exacerbated the shortage of boxes on the near-ocean route.
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