FBX us West line freight prices jumped more than a thousand dollars! Freight to stop falling rebound?
Comprehensive latest major shipping index, SCFI, NCFI index have stopped falling orders; WCI major airline index remained stable; The FBX Global Composite Average rose 3%. Of particular note, the FBX West America freight index rebounded sharply -- up 9% over $1,000 -- with small gains on east America, Europe and the Mediterranean.
SCFI: On Friday, the Shanghai EXPORT container freight rate Index (SCFI) published by the Shanghai Airlines Exchange rose 0.36% to 4162.69 points, ending a 17-week decline, but the East Line of the United States was flat with the previous period, due to the phased release of the seal, resumption of work and production and the accumulation of cargo, led by the Mediterranean line and European line up and 0.03%. The U.S. -West route was down 0.15 percent.
SCFI latest weekly offer
The freight from far East to Europe is $5862 /TEU, up and 0.03% weekly;
The freight rate of the Far East to Mediterranean route is $6614 /TEU, up $13, up 0.2% weekly;
Freight from far East to West Of the United States $7888 /FEU, down $12, down 0.15% weekly;
The freight rate of the far East to the East of the United States is $10,560 /FEU, the same as the previous period;
Asia ocean line Singapore point freight $994 /TEU, up $2, a weekly increase of 0.2%.
NCFI: The Ningbo Export Container Freight Rate Index (NCFI), released by the Ningbo Shipping Exchange, closed at 3,480.6 points on The 20th, up 0.6% from last week. The index rose on 12 out of 21 routes and fell on nine. Among the major ports along the Maritime Silk Road, 13 saw their rates rise and three saw their rates fall.
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European route: affected by shipping delays, suspensions and other factors, the shipping space of European route is relatively tight, but the overall market freight price fluctuates steadily at a high level.
The European air freight Index was 4232.6 points, down 0.6% from last week.
The freight index of the Eastern route was 4115.9 points, down 0.4% from last week. The Freight index of The West - West line was 4948.6 points, down 0.7% from last week.
North American routes: Route rates are down slightly, but rates remain high.
The U.S. East Freight Index was 3,538.4 points, down 0.4% from last week.
The Index was 4931.6 points, down 1.0% from last week.
FBX: The latest Freightos Baltic Index Index,FBX) for trans-Pacific freight, Asia to the West surged by $1,186 to $13,698 /FEU, including premiums. For EASTERN, FBX price volatility was more moderate, down $51 to $15,931 /FEU. Asia to Mediterranean/Northern Europe rose and 0.2% to and $10,583, respectively.
Spot rates are expected to accelerate as the July 1 expiration of labor contracts at us West Coast ports nears And, despite inflationary pressures on US consumers, shipping lines are still reporting strong demand for trans-Pacific routes. Some carriers are limiting their commitment to contracts in favour of what is expected to be a more lucrative spot freight business.
WCI: according to recent data Drury, across the Pacific Ocean, across the Atlantic ocean, Asia - northern Europe and Asia, the Mediterranean and other major routes, 21 weeks to 25 weeks (May 23 solstice on June 26) about 742 intended voyage will have 73 voyage was cancelled, which occurred in 71% of the air travelers across the Pacific travel routes, mainly to the west.
The Drury Composite Average WCI edged down 0.1% to $7,648.18 /FEU for the period, but remained 24.7% higher than the same period in 2021. Shanghai-rotterdam, Shanghai-Genoa, Shanghai-Los Angeles and Shanghai-New York rates hovered near the levels of previous weeks. Mr Drury expects the spot rate to remain stable in the coming weeks.
Shanghai's lockdown is expected to end in June, with restrictions gradually being lifted, Mr Drury said. A sudden return to near-normal levels of manufacturing and general economic activity could have some impact on the already overburdened global container distribution system. Once Shanghai fully reopens and manufacturing engines start to heat up, US and European containers could surge. In addition, us import demand remained strong in April despite inflationary pressures and COVID-19 constraints. If trade remains strong, congestion at ports in the US and Europe could worsen significantly, creating further delays and costs for already beleaguered shippers.
But due to the limited gains, with many shipping companies, freight forwarders practitioners said, this is the signal rate gained momentum, after all, Shanghai outbreak had a greater influence on the traffic control nearly two months, the entire supply chain smoothly recovery will take time, estimated after the Dragon Boat Festival, in the middle of June, a comprehensive resume work be able to release the cargo, freight market will become more clear, can only drive Gao Yunjia high cargo.
The latest Maersk Asia-pacific report predicts that once the epidemic is contained, port throughput will soon expand, shipping capacity to the United States is likely to increase and backlogs of cargo will continue to pour into American and Western ports, creating a new wave of supply chain bottlenecks.
Recently, Hamburg in Germany, Rotterdam in the Netherlands and other European ports, due to the hurricane caused port closure effect, coupled with the increase in cargo volume, Yangming and other shipping companies have informed customers that the European shipping rates from June, up $250 per 20 feet container, up $500 per 40 feet container.
In late may, according to industry observers, began to export cargo increasing and the current booking status in early June, lines to the flat, Europe rose slightly and then into the traditional peak season in the third quarter, shipping, looking forward to scroll effect, can be in the second quarter of the delay of cargo in the third quarter, supplement to add new orders to meet procurement by the end of season, like in the second half of the usher in a wave of shipment.
Before that, in March and April, manufacturers cleared their warehouses and stocks to catch up with shipments and shipping companies were still able to maintain a certain load. In May, the amount of goods became less and many carriers launched air transportation response, effectively supporting freight rates. The industry expects shipments to surge in mid-June.
Source (Shipping Information)