Shipping lines cancel hundreds of sailings!

The container freight rate continued to decline. The latest Shanghai Container Freight Index (SCFI) was 3887.85 points, down 108.92 points or 2.7% from last week, and it has been declining for the seventh consecutive week.

In the latest issue, the freight rates of major routes all fell:

> Far East to West - down $28, or 0.4%, to $6,694 FEU

> Far East to America East fell $98, or 1%, to $9,348 per FEU

> Far East to Europe was $5,416 per TEU, down $154, or 2.7%, from last week

> Far East to Mediterranean rates were $5,971 per TEU, down $230, or 3.7%, from last week

> For Southeast Asian routes, it was $968 /TEU, down $48, or 4%, from last week

> For the Persian Gulf route, the rate was $2,789 per TEU, down 6.1% from the previous period

> Australia-New Zealand route continued to retreat, with prices at $2,997 /TEU, down 4.6% from the previous period

> South American routes, which had risen for weeks, fell back to $9,439 per TEU, down 0.5% from the previous period

Among them, the Southeast Asia-Singapore route of the near-ocean route has the deepest decline in a row. Following the 3.6% decline last week, the latest week fell by 4%, falling below 1,000 points. Industry insiders pointed out that the freight rate of Southeast Asian routes fluctuates greatly. As long as the goods increase, the freight rate will rise immediately, and once the goods decrease, the freight rate will easily fall.

The latest data released by other major freight indices show that freight rates in the spot market continue to decline. Drewry's World Containerized Index (WCI) has fallen for 22 consecutive weeks, with the latest WCI composite down 0.9% for the week to $6,761.63/FEU, down 28% from a year earlier. Only the freight rate from Shanghai to Rotterdam increased by 1% or $62 to $9,154/FEU. Drewry expects rates to continue falling in the coming weeks.

According to the latest data released by Drewry in this issue, in the next five weeks (weeks 31-35), the world's three major shipping alliances have successively cancelled a total of 76 voyages. Among them, the 2M alliance has reached 30 voyages; THE alliance has reached 25 voyages, and the least number of voyages has been cancelled by the Ocean Alliance;

Out of a total of 756 scheduled sailings on major routes such as the transpacific, transatlantic, Asia-Nordic and Asia-Mediterranean, 100 sailings were cancelled between weeks 31 and 35, a cancellation rate of 13%. According to Drewry's current data, 68% of air travel during this period will occur on the trans-Pacific eastbound trade route.

Shenzhen Xunlaitong specializes in shipping export from Shenzhen to Australia & New Zealand, Germany, Netherlands and more business

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