International News

Sea Freight Rises

Views : 66
Author : Bozhou Marine
Update time : 2024-05-16 10:36:58
According to the weekly report on China's export container shipping market on May 10, the latest Shanghai Containerized Export Freight Index (SCFI) rose sharply by 365.16 points to 2305.79 points, an increase of 18.82%, achieving five consecutive increases. Among them, major routes such as Europe, North America, South America, Australia and New Zealand all experienced increases of around 20%.

According to relevant reports, industry insiders revealed that as shipping companies continued to control cabins and reduced and combined shifts during the May Day holiday, the cabins were full before the end of May, and many urgent cargoes may not be able to get on the ship at increased prices. Currently, it can be said that one cabin Hard to find.

In addition, with the rebound in demand in Europe and the United States, as well as concerns about the increase in Red Sea crisis detour time and shipping schedule delays, cargo owners have also increased their efforts to replenish inventory, and the overall freight rate will increase again.

Affected by the geopolitical conflict in the Red Sea, global ships are forced to detour around the Cape of Good Hope, which not only significantly increases transportation time, but also leads to major challenges in ship dispatching. The ships sailing to Europe every week are of different sizes, which brings great trouble to customers when booking space. European and American traders have also begun to replenish inventory in advance to avoid facing shortage of shipping space during the peak season of July and August.

The latest relevant market reports also show that the overall space situation on the China-Europe route is relatively tight in May, and freight rates are expected to continue to rise in the next two weeks. In terms of China-U.S. routes, the loading rate of the U.S. line continued to be fully loaded in the first half of the month, especially in the West America. The situation of limited low-price cabins and tight FAK cabins will continue until the second half of the year. Canadian railway workers will go on strike on May 22. potential risks.

Industry insiders said they never expected that market demand would be so huge after the May Day holiday. Previously, in response to the May Day holiday, shipping companies generally increased the proportion of blank flights by about 15-20%. This resulted in a shortage of shipping space on North American routes in early May, and some shipping spaces were full before the end of the month. Therefore, many planned shipments can only wait for the June ship.


www.bozhou-int.com | Marine Light
 
Related News
Read More >>
Battery Electric Vehicle Tariffs Battery Electric Vehicle Tariffs
Jun .17.2024
In June, several countries around the world raised import tariffs on battery electric vehicles exported from China.
Social Conflict In Argentina Social Conflict In Argentina
Jun .15.2024
On June 12, local time, thousands of demonstrators protested against President Milley's economic reform proposal outside the Congress building in Buenos Aires, the capital of Argentina, and the demonstration turned into violent clashes.
Japanese Car Company Scandal Japanese Car Company Scandal
Jun .05.2024
Japan's five major car companies, Toyota, Mazda, Yamaha, Honda and Suzuki, all violated regulations in vehicle performance testing, which attracted widespread attention from around the world.
Congestion At Singapore Port Congestion At Singapore Port
Jun .05.2024
Singapore is the world's second largest container port and a major transit hub in Asia. The recent congestion at Singapore Port has attracted attention in the industry.