Freight rates: From slump to rebound

Due to the global outbreak of COVID-19, ocean rates have been rising all the way, the rate from China to the West America even exceeded $20,000 per 40HC. 

After reaching a high level in mid-January, the freight rates of most routes have fallen sharply, and the rates of individual routes have even been cut in half.

According to the information, the Shanghai Export Containerized Freight Index, which represents spot rates, has fallen by more than 17 percent in the past three months.

Chief Analyst of Shenwan Hongyuan Transportation :

After the Spring Festival, shipowners of European and American trunk lines squeezed out a 20% increase in capacity compared with last year. It is equivalent to oversupply, so there will inevitably be a certain rate reduction pressure.

Export orders are hot, the freight rates on Southeast Asia routes rebound

On April 23, a column of CCTV Financial Channel reported that due to the growth of export orders, the freight rate of routes from Ningbo and other ports to Southeast Asia has recently rebounded slightly.

The person in charge of a freight forwarding company told reporters that since mid-to-late March this year, the volume of their exports to Southeast Asia has experienced explosive growth, and the freight has also begun to rebound slightly. It is reported that the freight rate of some heavy containers has increased by more than 50%.

Statistic shows that since April, the freight index of Ningbo-Thailand-Vietnam route has risen by 9.6%.