Southeast Asia Freight rates fell 

Carriers pointed out that the fourth quarter of this year will see a peak season for Southeast Asian shipping routes. However, the Shanghai Shipping Exchange's Southeast Asian Shipping rate index (SEAFI) rose from 1,450.97 on September 30 to 1,556.58 on October 28, only one month later, it began to decline again. Last Friday, it fell to 1146.85 points, down 409.73 points or 26.32% in nearly a month. It is estimated that there will be a small peak season before the Lunar New Year, but it is only a short-term slight increase.

On September 16, the lowest freight rate of this year was 95 dollars per 20 ft container in the Southeast Asia Shipping Line Index (SEAFI) in the Vietnam shipping line. At that time, the market reported that there was zero freight rate. The shipping company made up for the freight loss by charging 96 or 93 dollars of low sulfur fuel surcharge, container yard operation fee and document fee. Freight rates began to recover.

On October 28, the freight rate for Vietnam will return to US $197 per container, Thailand US $232, Singapore US $329, Philippines US $121, Malaysia US $311 and Indonesia US $428. On November 25, the price dropped back to $144 for Vietnam, $200 for Thailand, $231 for Singapore, $104 for the Philippines, $207 for Malaysia and $359 for Indonesia.

According to the Vietnam Labor Federation, the ongoing order shortage has affected more than 630,000 workers in 28 provinces and cities in Vietnam from September to November, with nearly 570,000 workers having their working hours cut, more than 34,000 workers losing their jobs and more than 31,000 workers having their labor contracts suspended or on unpaid leave.

The largest employer in Ho Chi Minh City, PouYuen Vietnam, a shoe maker owned by China's Taiwan Province's Bao Cheng Group, announced that starting Dec. 1, 20,000 of its 50,000 employees will be put on three-month furloff in 14-day cycles at the basic local wage of 180,000 dong per day. About NT $226.

Some carriers believe the market will not be optimistic in the next few months. Due to the long lunar holiday, some basic necessities will still be shipped before the start of the year, but the slow season after the end of the year is expected to make the first quarter of next year's performance worse than the fourth quarter of this year.

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

www.xunlaitong.com