This week, the overall demand for China's export container shipping market was stable and the overall freight rate fluctuates slightly. On January 14, the China Shipping Container Freight Index released by the Shanghai Shipping Exchange was 1065.32 points, up 0.8% from last week; the Shanghai Integrated Container Freight Index was 1111.84 points, down 1.3% from last week.
On European routes, the volume of this week increased slightly from last week, and the total shipping space of shipping companies increased to around 90%. The mediterranean cargoes are relatively poor and the total volume is less than 90%. On January 14, Shanghai Shipping Exchange issued freight rates for Shanghai export to European and Mediterranean routes (freight and ocean shipping surcharges) of US$1342/TEU and US$1212/TEU, respectively, down 2.8% and 1.7% from the previous week respectively. . After the shipping company slightly raised the freight rate, the volume of European routes declined. This week, major shipping companies have started to call back freight rates to prevent the volume from shrinking. As the current market is off-season, freight rates are still facing a lot of downward pressure. Some shipping companies said that they have no plans to adjust their capacity before the Spring Festival. However, if the post-holiday market freight rates show a large decline, the shipping companies will not rule out measures to reduce capacity. Impact on the decline in freight rates.
In North America, the volume of shipments this week was basically the same as last week. The average utilization rate of shipping companies remained at around 90%, of which the volume of the US Eastern routes was relatively good. From January 1st, some shipping companies raised the freight rates to US routes. In the absence of an increase in the overall volume of the market, the implementation of this measure was not effective. In view of this, this part of the company started to reduce freight rates this week. Gaining sources of supply led to a drop in the overall market price. On January 14, the freight rates (seaborne and ocean shipping surcharges) from Shanghai to the United States and the West and the US East Coast route issued by Shanghai Shipping Exchange were US$ 1977/FEU and US$ 3198/FEU, respectively, down by 1.9% from the previous week. 1.3%.
On the Australia-Singapore route, the volume of cargo this week was basically the same as that of last week. The average space utilization rate of all voyage vessels continued to be maintained at around 70%, and the market freight rate was slightly consolidating at a relatively low level. On January 14, the freight rates (seaborne and ocean shipping surcharges) from Shanghai exports to the basic port of Australia announced by the Shanghai Shipping Exchange were US$874/TEU, which was basically the same as last week.
In Japan, the volume this week was basically the same as last week, and the average space utilization rate of ships remained at around 70%. On January 14, the freight index of China's export to Japan route issued by the Shanghai Shipping Exchange was 755.09 points, which was basically the same as last week. As the Spring Festival approached, traders had to increase their volume in the near future in order to catch shipments before the holiday.
According to the latest data from the China Foreign Exchange Trading Center, on January 13, the central parity of the yuan against the US dollar was reported at 6.5997, which has once again set a new high since the exchange reform. This indicates that the RMB exchange rate entered the 6.5 era for the first time, and the continued strength of the yuan's currency value has been suppressed to some extent. Given the profitability of Chinese exporters, in this context, the growth of China’s total exports will likely be inhibited, which will have a far-reaching impact on China’s export container shipping market.
On European routes, the volume of this week increased slightly from last week, and the total shipping space of shipping companies increased to around 90%. The mediterranean cargoes are relatively poor and the total volume is less than 90%. On January 14, Shanghai Shipping Exchange issued freight rates for Shanghai export to European and Mediterranean routes (freight and ocean shipping surcharges) of US$1342/TEU and US$1212/TEU, respectively, down 2.8% and 1.7% from the previous week respectively. . After the shipping company slightly raised the freight rate, the volume of European routes declined. This week, major shipping companies have started to call back freight rates to prevent the volume from shrinking. As the current market is off-season, freight rates are still facing a lot of downward pressure. Some shipping companies said that they have no plans to adjust their capacity before the Spring Festival. However, if the post-holiday market freight rates show a large decline, the shipping companies will not rule out measures to reduce capacity. Impact on the decline in freight rates.
In North America, the volume of shipments this week was basically the same as last week. The average utilization rate of shipping companies remained at around 90%, of which the volume of the US Eastern routes was relatively good. From January 1st, some shipping companies raised the freight rates to US routes. In the absence of an increase in the overall volume of the market, the implementation of this measure was not effective. In view of this, this part of the company started to reduce freight rates this week. Gaining sources of supply led to a drop in the overall market price. On January 14, the freight rates (seaborne and ocean shipping surcharges) from Shanghai to the United States and the West and the US East Coast route issued by Shanghai Shipping Exchange were US$ 1977/FEU and US$ 3198/FEU, respectively, down by 1.9% from the previous week. 1.3%.
On the Australia-Singapore route, the volume of cargo this week was basically the same as that of last week. The average space utilization rate of all voyage vessels continued to be maintained at around 70%, and the market freight rate was slightly consolidating at a relatively low level. On January 14, the freight rates (seaborne and ocean shipping surcharges) from Shanghai exports to the basic port of Australia announced by the Shanghai Shipping Exchange were US$874/TEU, which was basically the same as last week.
In Japan, the volume this week was basically the same as last week, and the average space utilization rate of ships remained at around 70%. On January 14, the freight index of China's export to Japan route issued by the Shanghai Shipping Exchange was 755.09 points, which was basically the same as last week. As the Spring Festival approached, traders had to increase their volume in the near future in order to catch shipments before the holiday.
According to the latest data from the China Foreign Exchange Trading Center, on January 13, the central parity of the yuan against the US dollar was reported at 6.5997, which has once again set a new high since the exchange reform. This indicates that the RMB exchange rate entered the 6.5 era for the first time, and the continued strength of the yuan's currency value has been suppressed to some extent. Given the profitability of Chinese exporters, in this context, the growth of China’s total exports will likely be inhibited, which will have a far-reaching impact on China’s export container shipping market.
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