(CCFI Commentary in Issue 34, 2011)
This week, the China's containerized transport market showed upward, with the composite freight index increased slightly. On August 19th, the China Containerized Freight Index issued by Shanghai Shipping Exchange was 990.97 points, up 0.8% from last week; while the Shanghai Containerized Freight Index came out at 1064.10 points, up 3.0% from last week.
In Europe service the cargo volume kept at the same level in last week and the slot utilization hovered around 90%. Cargo exports in Southern China showed specifically good and the freight rate maintained steady. On August 19th, the freight index of the Europe service was 1107.84 points, basically equaling to last week. The conventional peak season enhanced the cargo volume of Mediterranean service as some of the voyages ran out of slots, with the slot utilization averaged above 95%. Freight rate uplifted as well.
On August 19th, the freight index of the Mediterranean service was 1322.18 points, up 2.3% from last week.
In North America service, the cargo level was perceived stable in US west coast service as the slot utilization generally stayed at 85%. While in US east coast the demand for capacity apparently thrived, buoying up the slot utilization to above 95% with a lot of voyages reported laden. Insiders indicated an uncertainty of the effects of carriers' PSSs, with the biggest increase at USD 400/FEU, announced on August 15th due to the gloomy expectation of the market. So carriers were conservative about the restoration as well, pricing the average of the PSSs at USD 200/FEU ~ USD 300/FEU. On August 19th, the freight rate (ocean freight plus surcharges) for the voyages from Shanghai to US west coast and US east services were USD 1769/FEU and USD 3343/FEU, respectively up 11.3% and 6.8% from last week.
In Australia and Singapore service, thanks to the approaching conventional peak season at August, the propelling cargo volume pushed the slot utilization up above 95%, with none slot available reported in lots of voyages. Several lines had imposed PSSs, around USD 150/TEU ~ USD 200/TEU, in the middle of the month. On August 19th, the freight index of the Australia and Singapore service was 931.77 points, up 0.6% from last week.
According to the pundits, new capacity added in next week would be very likely to break the current market balance and curb the booming trend of the freight rate.
In Persian Gulf service the ongoing Ramadan was still the main reason depressing the freight rate, where the slot utilization stood at 90%. On August 19th, the freight rate (including ocean freight and surcharges) of the voyages from Shanghai to base ports in Persian Gulf service was USD 937/TEU, down 1.7% from last week.
In South America service the cargo volume was witnessed steady. However, the fact for the freight restorations in previous weeks outpacing the corresponding cargo volume lowered the freight rate. On August 19th, the freight rate (ocean freight plus surcharges) for the voyages from Shanghai to base ports in South America quoted USD 2120/TEU, down 1.3% from last week.
In Japan service the market hold still as the slot utilization revealed 75%, which slightly climbed up from last week. On August 19th, the freight index of the Japan service issued by SSE was 808.76 points, up 1.1% from last week.
viernes, 26 de agosto de 2011
lunes, 22 de agosto de 2011
Asia-US west coast rates lead the peak season surge with 11.3pc hike
FREIGHT rates on all major trades from China continued to climb last week with the biggest jump occurring on the US west coast route where rates increased 11.3 per cent from the previous week to US$1,769 per FEU, according to Shanghai Containerised Freight Index (SCFI) data.
UK-based shipbroker ACM Shipping reported that rate hike to the US west coast was nearly half the amount announced by the Transpacific Stabilisation Agreement for this year's peak season surcharge.
But the increases did not stop there as rates to the US east coast rose by 6.8 per cent week-to-week to $3,343 per FEU.
Following on from a solid 5.5 per cent increase the week before, Asia-Med rates rose again last week by 2.9 per cent to $1,049 per TEU, while Asia-Europe rates were up a marginal 0.5 per cent to $832 per TEU.
At their current low levels it looks as though it will be some time before rates get back to the breakeven level on the Asia-Europe trade, but the fact that rates are rising is positive, albeit by only a small amount, is still positive.
OOCL to raise Asia-Europe westbound rate US$275/TEU from September 1
HONG KONG's Orient Overseas Container Line (OOCL) is to raise its general rate for cargo for westbound traffic from Asia to Europe by US$275 per cent TEU from September 1, the company announced.
The freight rate will apply to shipments from Far East to the Middle East to North Europe, the Mediterranean and the Black Sea.
The increase is necessary to cover basic operating costs and provide a viable service level, said the company in a notice to trade
The freight rate will apply to shipments from Far East to the Middle East to North Europe, the Mediterranean and the Black Sea.
The increase is necessary to cover basic operating costs and provide a viable service level, said the company in a notice to trade
CCFI Commentary Issue 33, 2011
Weekly Report of China Export Container Transport Market(CCFI Commentary in Issue 33, 2011)
This week, the China’s containerized transport market maintained firm, with the composite index slightly increased. On August 12th, the China Containerized Freight Index issued by Shanghai Shipping Exchange was 983.52 points, up 0.5% from last week; while the Shanghai Containerized Freight Index came out at 1033.24 points, up 1.4% from last week.
In Europe service this week, the cargo volume hiked steadily, buoying the slot utilization up to above 90% with some voyages running out of slots. The thriving market quotation stabilized the freight rate after its previous upturn, while in some voyages the price continued went up with the upward trajectory of last week. On August 12th, the freight rate (ocean freight plus surcharges) of the voyages from Shanghai to base ports in Europe service reported USD 828/TEU, up 0.6% from last week. In Mediterranean service, the ongoing conventional peak season stimulated the slot utilization to above 95%, with the freight rates over the west Mediterranean voyages climbed up to USD 1050/TEU. On August 12th, the freight rate (including ocean freight and surcharges) of the voyages to Mediterranean service was USD 1019/TEU, up 5.5% from last week.
In North America, a sharp differential turned up between the west- and east-bound services. In US west coast service the cargo remained sluggish and the slot utilization stood at about 85%. Freight rate kept dipping, while for some voyages the price had even fallen to USD 1300/FEU, which is near half of what it was a year earlier. On August 12th, the freight index of the US west coast service reported 903.59 points, down 1.7% from last week. The US east coast service was seen bullish, giving the limited capacity influx, sound supply-demand relation, and a 95% slot utilization, which in some cases it was 100%. On August 12th, the freight index of the US east coast service was 1191.18 points, basically equaling to last week. Thanks to the coming conventional peak season, carriers were poised to announce a USD 400/FEU peak season surcharge since August 15th. However, people were afraid of the plan’s implementation as the weak cargo volume and the excessive capacity could not be ignored. As a result, some were reported delaying the announcement to 22nd and cutting the price added.
However, whether the implementation will be fulfilled was conceived as an uncertainty by the market citing the weak cargo volume and the excessive capacity.
In Australia and Singapore service, the approaching conventional peak season left the cargo volume in a strong upward momentum, where the slot utilization hovering above 95% and more voyages were reported laden. Freight rate kept ascending because of the improved supply-demand relations. On August 12th, the freight rate (ocean freight plus surcharges) of the Australia and Singapore service appeared USD 833/TEU, burst by 16.7% from last week. Considering the outstanding performance of the cargo volume, carriers tended to uplift the freight rate once again by about USD 200/TEUl.
In Persian Gulf service, inflicting by the Ramadan, the cargo volume kept slipping and the slot utilization revealed at 90%. Freight rate kept the slumping behavior of last week. On August 12th, the freight rate (ocean freight plus surcharges) of the voyages from Shanghai to base ports in Persian Gulf service quoted USD 953/TEU, down 0.7% from last week. As the demand of the capacity generally restrained, some carriers would cut their capacity by switching small tonnages into larger ones.
This week, the China’s containerized transport market maintained firm, with the composite index slightly increased. On August 12th, the China Containerized Freight Index issued by Shanghai Shipping Exchange was 983.52 points, up 0.5% from last week; while the Shanghai Containerized Freight Index came out at 1033.24 points, up 1.4% from last week.
In Europe service this week, the cargo volume hiked steadily, buoying the slot utilization up to above 90% with some voyages running out of slots. The thriving market quotation stabilized the freight rate after its previous upturn, while in some voyages the price continued went up with the upward trajectory of last week. On August 12th, the freight rate (ocean freight plus surcharges) of the voyages from Shanghai to base ports in Europe service reported USD 828/TEU, up 0.6% from last week. In Mediterranean service, the ongoing conventional peak season stimulated the slot utilization to above 95%, with the freight rates over the west Mediterranean voyages climbed up to USD 1050/TEU. On August 12th, the freight rate (including ocean freight and surcharges) of the voyages to Mediterranean service was USD 1019/TEU, up 5.5% from last week.
In North America, a sharp differential turned up between the west- and east-bound services. In US west coast service the cargo remained sluggish and the slot utilization stood at about 85%. Freight rate kept dipping, while for some voyages the price had even fallen to USD 1300/FEU, which is near half of what it was a year earlier. On August 12th, the freight index of the US west coast service reported 903.59 points, down 1.7% from last week. The US east coast service was seen bullish, giving the limited capacity influx, sound supply-demand relation, and a 95% slot utilization, which in some cases it was 100%. On August 12th, the freight index of the US east coast service was 1191.18 points, basically equaling to last week. Thanks to the coming conventional peak season, carriers were poised to announce a USD 400/FEU peak season surcharge since August 15th. However, people were afraid of the plan’s implementation as the weak cargo volume and the excessive capacity could not be ignored. As a result, some were reported delaying the announcement to 22nd and cutting the price added.
However, whether the implementation will be fulfilled was conceived as an uncertainty by the market citing the weak cargo volume and the excessive capacity.
In Australia and Singapore service, the approaching conventional peak season left the cargo volume in a strong upward momentum, where the slot utilization hovering above 95% and more voyages were reported laden. Freight rate kept ascending because of the improved supply-demand relations. On August 12th, the freight rate (ocean freight plus surcharges) of the Australia and Singapore service appeared USD 833/TEU, burst by 16.7% from last week. Considering the outstanding performance of the cargo volume, carriers tended to uplift the freight rate once again by about USD 200/TEUl.
In Persian Gulf service, inflicting by the Ramadan, the cargo volume kept slipping and the slot utilization revealed at 90%. Freight rate kept the slumping behavior of last week. On August 12th, the freight rate (ocean freight plus surcharges) of the voyages from Shanghai to base ports in Persian Gulf service quoted USD 953/TEU, down 0.7% from last week. As the demand of the capacity generally restrained, some carriers would cut their capacity by switching small tonnages into larger ones.
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