The freight rate has dropped for 11 consecutive weeks, with a weekly drop of 8%!
Affected by the sustained development of global inflation and slowing demand, container freight rates continue to fall. The latest Shanghai Container Freight Index (SCFI) is 3,154.26 points, down 275.57 points from last week, with a weekly drop of 8.03%, the biggest weekly drop since the epidemic, and it has been falling for 11 consecutive weeks.
The freight rates of major routes in the latest phase continue to fall in full:
The freight rate to the Far East and West America is 5134 USD /FEU, down 648 USD per week, down 11.21%;
The freight rate to the Far East is 8801 USD /FEU, down 191 USD per week, down 2.12%;
The freight rate to the Far East Europe is 4441 USD /TEU, down 347 USD per week, down 7.25%;
The freight rate to the Far East Mediterranean is $5,071 /TEU, with a weekly drop of $412, down by 7.51%;
The freight rate in Southeast Asia is USD 591 /TEU, down USD 158 per week, down by 21.09%;
Persian Gulf route, the freight rate is 2057 USD /TEU, down 7.8% from the previous period.
Australia-New Zealand route continues to fall, and the freight rate is USD 2,797 /TEU, down 2.0% from the previous period.
South American routes, falling for five consecutive weeks, the freight rate is 8828 USD /TEU, with a weekly drop of 137 USD, or 1.53%.
Among them, last week, American-Western, Mediterranean and Southeast Asian routes dropped significantly, with weekly drops of 11.21%, 7.51% and 21.09% respectively. The highest drop was in Southeast Asia, with a weekly drop of 21.09%, which was mainly dragged down by the sharp drop in freight rates between Vietnam and Thailand.
Large freight forwarders pointed out that last week, the freight rate on the western line of the United States dropped sharply. On Monday, the freight rate per large container in Shanghai dropped to $4,600, and by the end of the week, it had been quoted at $4,200, while that in South China was around $4,400. There are strikes on railway roads and ports in Europe and America. The strike in Felixstowe, England, went on until Sunday, and Hamburg, Germany, was severely congested. At present, it is known that nearly half of the flights on European routes will be cancelled in September, and the market situation is still unstable.
The latest data released by other major freight indexes show that freight rates in the spot market continue to decline. The World Container Freight Index (WCI) of Luli has been falling for 26 consecutive weeks, and the latest WCI composite index continues to fall sharply by 4% to USD 5,985.53 /FEU, down 39% compared with the same period last year. Shanghai-Los Angeles freight dropped by 6%, that is, from $394 to $6,127/FEU; Shanghai-Rotterdam freight dropped by 5%, that is, 420 USD to 8010 USD/FEU; Shanghai-Genoa freight decreased by 2% to 8391 USD/FEU; Shanghai-new york freight dropped by 1% to 9,569 USD /FEU. . It is expected that the freight rate in Drewry will continue to decline in the next few weeks.
The global comprehensive index of the Baltic Freight Index (FBX) is 5703 USD /FEU, down 2% per week; The United States fell sharply by 6% to $5,419/FEU; The United States fell 1% to $9,085/FEU; Mediterranean fell 2% to $10,235 /FEU. Only Northern Europe fell by 1% to $9,979 /FEU.