Weekly Commentary on China Containerized Transportation

Liu+Zijia

This week， Chinas export container transport market rose steadily overall， but impacted by the excess capacity， most freight rates fell， with comprehensive index declining. On April 15， China （Export） Containerized Freight index （CCFI） issued by Shanghai Shipping Exchange （SSE） quotes 636.14 points， down by 0.6% from one week ago； while Shanghai （Export） Containerized Freight index （SCFI） issued by SSE tumbled by 3.6% comparing with that last week to 472.07 points.

The Europe service saw cargo volume rebounding slightly， but the average slot utilization rate hovered 85%-90%， with some even above 90%. Spot rate continued to decline， with some below USD200/TEU. On April 15， freight rate in the Shanghai-Europe service （covering seaborne surcharges） USD271/TEU， falling by 6.9% from one week ago. In the Mediterranean service， supply/demand condition had some improvement， and the average slot utilization rate kept above 90%， with the loading rate in the East Mediterranean and Black Sea voyage around 95%. On April 15， freight rate in the Shanghai-Mediterranean （covering seaborne surcharges） quote USD409/TEU， down by 6.6% from one week.

The U.S. economy has maintained steady recovery， which supported local consumption rising and pushed transport demand growing steadily in the North America service. Owing to part mega vessels in the Asia-Europe service transferred to the USWC service， the average slot utilization rate hovered between 85% and 90%， with spot rate declining. In a contrast， the average slot utilization rate in the USEC service kept above 90% and spot rate slipped continuously. On April 15， freight indices in the services from China to USWC and USEC quoted 644.88 points and 820.02 points， falling by 8.3% and 1.2% over the previous period respectively.

Transport demand kept stable in the Persian Gulf service， where demand/supply condition improved continuously， and spot rate showed on the steady upward trend. On April 15， freight rate in the Shanghai-Persian Gulf service （covering seaborne surcharges） quotes USD561/TEU， up by 0.5% from one week ago.

In the Australia/New Zealand service， shipping companies continued to control capacity， but the average slot utilization rate remained between 85% and 90%. On April 15， freight rate in the Shanghai-Australia/New Zealand service （covering seaborne surcharges） quote USD377/TEU， a week-on-week decrease of 12.3%.

In the South America service， the weak economy dragged down the growth of transport demand. The average slot utilization rate in this service was only 70-80%， and freight rate rebounded largely. In the West coast of this service， cargo volume recovered gradually， and the average slot utilization rate rose to around 90%， with some even near 95%. Spot rate increased steadily. On April 15， freight index in the China to South America service quotes 361.70 points， jumping by 14.1% over the previous period.

（Please contact the Information Dept of SSE for more details.）