Analysis of the Export Container Shipping Market and Freight Rates

一、运价指数

二、国际市场

China's export container shipping market remained generally stable, although the fundamental supply and demand dynamics showed some weakness. Freight rates declined on most routes, leading to a continued adjustment in the composite index.

• European Routes: The fundamental supply and demand balance was somewhat weak, leading to a continued decline in freight rates.

• North American Routes: Growth in transport demand was sluggish, and the supply-demand fundamentals lacked support, causing freight rates to continue their adjustment.

• Persian Gulf Routes: Transport demand maintained steady growth, pushing spot market booking prices higher.

• Australia-New Zealand Routes: Transport demand remained at high levels with solid supply-demand fundamentals, leading to further increases in spot booking prices.

• South American Routes: Transport demand lacked momentum for further growth, and the supply-demand balance was less than ideal, resulting in continued declines in freight rates.

三、青岛口岸

Entering September and approaching the National Day holiday period, the market is expected to generally stabilize with a trend towards rate increases.

东南亚市场 (Southeast Asia Market)

1. Indonesia routes: Freight rates were relatively stable in August with sufficient space.

2. Thailand, Singapore/Malaysia, Philippines, Vietnam routes: Space was readily available in August without a significant increase in shipments. Thailand saw a slight improvement. Overall rates were relatively stable, though the Philippines experienced decreases. Short-term rate hikes are possible in September.

韩国市场 (South Korea Market)

1. Incheon direct services: Limited vessel capacity and infrequent sailings have kept prices firm. Plan and book early.

2. Busan/Gwangyang (including Ulsan) services: Schedules are generally stable. Rates were relatively stable this month, but increases are expected from September. However, space has not become extremely tight.

中国台湾/香港/澳门市场 (China Taiwan / Hong Kong / Macau Market)

1. Taiwan routes: Shipments and space allocation were relatively stable this month. A minor peak season is expected in September; advance planning is advised.

2. Hong Kong/Macau routes: Freight rates are largely unchanged with stable schedules. However, space allocation in September may cause issues, so plan ahead.

印巴市场 (Indian Subcontinent Market)

1. Pakistan: There are 4-5 weekly direct services. Nhava Sheva has 8 weekly sailings. Rates on India West Coast and Pakistan routes experienced minor fluctuations and increases. India East Coast has 2-3 direct services with relatively stable space and rates.

2. Special Note: As some container owners route cargo via Mundra for transshipment to the Red Sea, Red Sea cargo gets priority, which may affect the acceptance of Mundra-bound cargo.

波斯湾市场 (Persian Gulf Market)

1. Qingdao to Jebel Ali (Dubai): Normally 7-9 weekly direct services. Cargo volume is basically flat, and rates are holding. Space reduction plans are expected later, but rates haven't surged significantly. A slight increase is forecast for September.

2. Qingdao to Dammam: 4 weekly direct services operating normally. Cargo volume is flat, and rates are stable. Space tightens in the latter part of the month, but without a major rate rebound. A slight increase is expected in September.

红海市场 (Red Sea Market)

• Qingdao to Jeddah: Normally 4 weekly direct services. To Sokhna/Aqaba: normally 3 weekly direct services. Overall cargo volume has contracted. Rates dropped in August as expected. Rate push increases are anticipated in the latter half of September.

澳新市场 (Australia-New Zealand Market)

• Entering the peak season, rates have increased significantly. Rates are currently updated to $1300/$2400 (presumably per TEU/FEU) for early September. Planning and booking at least two weeks in advance is advised.

中南美市场 (Central & South America Market)

1. South America West Coast: Space is generally tight in September. Some carriers are already fully booked before mid-month, expecting rate hikes. By late September, carriers will hold cargo for the National Day holiday, leading to potential blank sailings in October. Carriers will likely seize opportunities to push rates up, but this depends on market conditions.

2. South America East Coast: Rates fell in August with sufficient direct ship space. Rate increases are planned for September; plan shipments accordingly.

3. Caribbean: Rates were relatively stable in August with no major fluctuations. Rate hikes are planned for September, potentially significant, though full implementation is uncertain. Carriers are implementing space control to pave the way for increases.

欧洲市场 (European Market)

• European freight rates continue to correct. Major carriers are actively seeking cargo, and space is relatively ample. Ports in Belgium, Netherlands, and Germany remain congested. The market is expected to remain in a downward trend in early September. Despite the traditional peak season, market demand is very weak, with most shippers adopting a wait-and-see approach, making a short-term recovery difficult.

美国加拿大市场 (USA & Canada Market)

• The market was stable in August, with rates on US West and East Coast routes continuing to decline. Cargo volume is not expected to grow significantly. Despite some service suspensions and occasional blank sailings, overcapacity persists, and overall space is sufficient. As major retailers plan to increase shipments in September, a brief spike in bookings and a rise in ocean freight rates are expected in early September.

地中海北非市场 (Mediterranean & North Africa Market)

• Freight rates for West and East Mediterranean routes showed a slight downward trend this month. Demand is expected to remain stable without significant volume growth. Vessel waiting times at South Mediterranean ports (Piraeus, Genoa, Valencia) remain at 3-6 days, unchanged from July. The Peak Season Surcharge (PSS) in the West Mediterranean has been postponed to the end of Q3. A General Rate Increase (GRI) is expected for East Mediterranean (Turkey, Israel) in early September. Wan Hai is launching a direct express service to the East Mediterranean in September, likely via the Red Sea route.

南非市场 (South Africa Market)

• Qingdao to Durban and Cape Town: There are 2 weekly direct services in total. Space is tight, and freight rates are rising.

东非市场 (East Africa Market)

1. Qingdao to Mombasa: 3 weekly direct services in total. Space availability has eased, and rates are flat.

2. Qingdao to Dar es Salaam: 1 weekly direct service. After a small rate increase, rates subsequently decreased. A rate push is expected in September; plan accordingly.

西非市场 (West Africa Market)

1. Qingdao to Apapa: 2 weekly direct services. Space availability has eased, and rates have decreased.

2. Qingdao to Tema: 3 weekly direct services. Space availability has eased, and rates have decreased.

Note: This analysis is based on the provided market update. The situation can change rapidly, and it's always recommended to confirm latest rates and space with your carrier or freight forwarder for specific shipment planning.

We will continue to monitor the market and provide timely updates. Please feel free to contact us for your specific shipping requirements.