Container freight transport prices declining in Europe and the United States

This week, the China Containerized Freight Index (CCFI) closed at 1202.59 points, down 12.11 points from the previous week, a decrease of 1.00%. Demand for China's export container shipping market has gradually weakened, and freight rates have fallen. It is expected that the market freight rates will fluctuate in the short term.

This week, the European route freight index closed at 1803.29 points, down 0.63% from last week; the Mediterranean route freight index closed at 1978.23 points, down 0.26% from the previous week. On the European route, after liner companies took the initiative to lower the freight rate, the ship loading rate improved slightly; the volume of cargo on the Mediterranean route was normal, and the freight rate was dragged down by the decline of European route freight rates. This week, the freight rates of the European routes have fallen below the psychological threshold of US$1800/TEU. The market outlook is not optimistic.

Shanghai Shipping Exchange this week announced that the freight rates for Shanghai exports to the United States, the West Coast, and the basic East Coast markets were US$2,635/FEU and US$4063/FEU, respectively, down 2.12% from the previous week and 0.73% respectively. Demand for North American routes tends to be flat and freight rates continue to decline. Some liner companies have threatened to impose a third peak season surcharge on the US East Coast route recently. However, considering the current market situation, it is unlikely that the price increase plan will be implemented successfully.