container freight rates continued to decline sharply, Deluri fell 10% weekly, FBX fell 8% weekly, SCFI fell 10.4% weekly, and NCFI fell 13.3% weekly.
Deluri's World Container Freight Index (WCI) has declined for 30 consecutive weeks, with the latest WCI Composite Index falling 10% to $4472/FEU, down 57% from the same period last year. Shipping rates in Shanghai-Genoa fell 13% or $934 to $6419/FEU. Shanghai-Los Angeles freight rates fell 11% or $473 to $3779/FEU. Shipping rates in Shanghai- Rotterdam and Shanghai-New York fell by 10% and 9% to $6027/FEU and $7701/FEU, respectively. Drury expects freight rates to continue to decline in the coming weeks.
The latest issue of the Shanghai Container Freight Index (SCFI) was 2072.04 points, a weekly decline of 10.4%.
All freight rates in the latest period of major routes fell:
●Far East to the United States and West fell to US$2684/FEU, a drop of 12.0%;
●Far East to the United States and East fell to US$6538/FEU, a drop of 8.9%;
●Far East to Europe to Europe freight rates were US$3163/TEU, a drop of 10.8%;
●Far East to Mediterranean freight rates were US$3249/TEU, a drop of 14%.
● Persian Gulf route freight rate was US$988/TEU, down 19.8% from the previous period.
●The freight rate of the ANZZF route is US$1,956/TEU, down 13.5% from the previous period.
●The freight rate of South America route is US$5479/TEU, down 13.6% from the previous period.
Baltic sea freight index (FBX) global comprehensive index was US$4262/FEU, down 8% weekly; the United States and West fell 13% to US$3441/FEU; the United States and East fell 10% to US$7657/FEU; the Nordic fell 5% to US$7278/FEU. The Mediterranean plummeted 19% to $6,668/FEU.
In addition, the latest issue of Ningbo Export Container Freight Index (NCFI) released by Ningbo Shipping Exchange closed at 1529.2 points, down 13.3% from last week. Among the 21 routes, 3 routes, the freight index of , rose, and the freight index of 18 routes fell. Among the main ports along the " Maritime Silk Road ", the freight index of 4 ports rose, while the freight index of 12 ports fell.
●European route: is approaching the National Day holiday, and the traditional peak of shipping has not occurred, and the freight rate decline has expanded. The European route freight index fell 12.1% from last week; the Didong route freight index fell 11.4% from last week; the Dixigu route freight index fell 14.3% from last week.
●North American routes: cargo demand is limited, market competition is fierce, and the weekly month-on-month decline of routes in the United States and the United States is the largest in the year. The freight index of the US Eastern route fell 9.2% from last week; the freight index of the US Western route fell 19.5% from last week.
●Middle East route: The market trend of continues to weaken, freight rates continue to decline, and the freight rate index of the Middle East route is only one-seventh of the beginning of the year. The Middle East Route Index fell 26.7% from last week.
In addition, the market fluctuations of the following routes this week are relatively large:
●Red Sea Route: The freight demand gap is large, the market price reduction method is more radical, and the route freight rate drops significantly. It fell 39.0% from last week.
★ Stop flights ★
According to the latest data released by Drury in this issue, the three major shipping alliances in the world have canceled a total of 101 flights in the next five weeks (weeks 39-43). Among them, the most canceled voyages were the THE Alliance, which had 36 voyages; the 2M Alliance had 33 voyages, and the fewest , the Ocean Alliance, , had 32 cancelled voyages.
out of a total of 744 scheduled voyages on major routes such as Trans-Pacific, Transatlantic, Asia-Nordic and Asia-Mediterranean, 117 voyages were canceled between Week 39 (9.26-10.2) and Week 43 (10.24-30), with a cancellation rate of 16%. According to Drury's data for this period, 68% of air navigation will occur on trans-Pacific eastward trade routes during this period. 25% occur in Asia-Nordic and Mediterranean, and 7% occur in transatlantic westbound trade routes.
Deluri said that with the arrival of the Golden Week, demand for Asian exports from major East-West trade routes weakened, resulting in shipping companies implementing airlines to offset the decline in traffic volume and spot prices, especially during the Golden Week, where Chinese factories will be shut down due to holidays.In fact, some shipping companies have terminated some trans-Pacific shipping services provided to USWC in the United States and the West. For example, spot prices in the Trans-Pacific Eastbound trade plummeted, forcing operator Matson (Matson) to shut down its China- California Express (CCX) service from mid-September before the peak season. Although spot prices have fallen for 30 consecutive weeks, contract prices have remained stable so far, mainly because shippers still face difficulties in supply chain congestion, especially in Nordic and Far East to the United States (ECNA).
