Us East Terminal strike crisis lifted! Bulk freight rates fell sharply
With the United States dockworkers strike crisis lifted, coupled with the Spring Festival holiday approaching, the Shanghai export container freight index (SCFI) ended six consecutive rises and turned down again.
According to the latest data released by the Shanghai HNA Exchange on January 10, the SCFI index fell 214.49 points to 2290.68 points last week, a weekly decline of 8.56%, losing the 2,300 point mark. The four major ocean routes in Europe and the United States fell, of which the European line fell more.
Last week, the FEU rate for the Far East to the West fell by $315 to $4,682, a weekly decline of 6.3%; The freight rate of the Far East to the United States East line fell by $189 per FEU to $6,229, a weekly decline of 2.94%; Far East to Europe freight fell by $411 per TEU to $2,440, a weekly decline of 14.42%; The Far East to Mediterranean line fell by $270 per TEU to $3,477, a weekly decline of 7.21%.
On the oceanic line, the freight rate from the Far East to Kansai, Japan, fell by $12 per TEU from the previous week to $305; Far East to Japan Kanto per TEU dropped $9 from the previous week to $308; Far East to Southeast Asia freight per TEU fell $91 to $564 from the previous week; As far away as South Korea, the freight rate per TEU dropped $2 from the previous week to $139.
The International Longshoremen's Association of the United States (ILA) and the American Maritime Union (USMX) announced on January 8 that they have reached a preliminary agreement on a new six-year master contract. A dock strike scheduled for January 15 was avoided. In a joint statement, the two sides said the new contract not only protects existing ILA jobs, but also lays the foundation for the introduction of technology that will create more jobs in the future. At the same time, it will advance the modernization of ports on the East Coast and Gulf Coast of the United States to make ports safer, more efficient and more competitive in the global supply chain.
Since December last year, the SCFI index has risen all the way, especially under the support of the uncertain factor of the strike at the eastern terminal of the United States, the freight rate of the Western line of the United States is particularly obvious, mainly benefiting from the effect of the transfer of cargo on the Eastern line.
Nowadays, due to the removal of market variables and the reduction of shipments to factories after the end of the year, container shipping companies continue to repair freight prices to grab goods in order to slowly digest stocks before the factory resumes work after the Spring Festival holiday.
Industry analysts, this year's Spring Festival holiday time earlier, this week is still full, as the holiday is getting closer and closer, freight rates also began to revise downward, this is not only a phenomenon this year, usually one or two weeks before the Spring Festival every year, freight rates are weekly downward trend.
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