On September 12, the latest Shanghai Export Containerized Freight Index (SCFI) released by the Shanghai Shipping Exchange stood at 1,398.11 points, a decrease of 3.2% from the previous period.

The Chinese export container transportation market remained basically stable. Although freight rates on the US routes rose, those on other routes fell, dragging down the composite index.

Source: Shanghai Shipping Exchange. All rights reserved.

On the North American routes, shipping companies increased market freight rates to a certain extent by reducing capacity supply. However, senior freight forwarders generally expect this upward trend to be unsustainable.

Recently, shipping companies have suspended multiple flights from China to ports on the US West Coast. The PA Ocean Alliance will suspend the PS5 route service from eastern mainland China to the US West Coast in late September; the 2M Alliance also plans to suspend the T9/WC6 service.

On September 12, the market freight rates (including ocean freight and surcharges) for shipments from Shanghai Port to basic ports on the US West Coast and US East Coast were USD 2,370/FEU and USD 3,307/FEU respectively, up 8.3% and 7.6% from the previous period.

On the European routes, on September 12, the freight rate (including ocean freight and surcharges) for shipments from Shanghai Port to basic European ports was USD 1,154/TEU, a decrease of 12.2% from the previous period.

The Mediterranean routes moved in tandem with the European routes, with freight rates continuing to decline. On September 12, the freight rate (including ocean freight and surcharges) for shipments from Shanghai Port to basic Mediterranean ports was USD 1,738/TEU, a decrease of 11.8% from the previous period.

Demand growth on the Persian Gulf routes was weak, and freight rates continued to fall. On September 12, the market freight rate (including ocean freight and surcharges) for shipments from Shanghai Port to basic Persian Gulf ports was USD 1,273/TEU, a decrease of 16.2% from the previous period.

Previously, market freight rates on the Australia-New Zealand routes had been rising continuously, but recently they have adjusted downward. On September 12, the market freight rate (including ocean freight and surcharges) for shipments from Shanghai Port to basic Australia-New Zealand ports was USD 1,259/TEU, a decrease of 4.1% from the previous period.

Demand in the South American route market was insufficient, and freight rates continued to decline. On September 12, the market freight rate (including ocean freight and surcharges) for shipments from Shanghai Port to basic South American ports was USD 3,018/TEU, a decrease of 5.7% from the previous period.

In the Japanese route market, transportation remained generally stable, with market freight rates rising slightly. On September 12, the freight index for China's exports to Japan stood at 964.10 points.

SCFI Freight Rates

- European routes: USD 1,154/TEU, a decrease of USD 161, down 12.2% week-on-week.

- Mediterranean routes: USD 1,971/TEU, a decrease of USD 233, down 11.8% week-on-week.

- US West Coast routes: USD 2,370/FEU, an increase of USD 181, up 8.3% week-on-week.

- US East Coast routes: USD 3,307/FEU, an increase of USD 244, up 7.6% week-on-week.

- Persian Gulf routes: USD 1,273 per container, a decrease of USD 246, down 16.2% week-on-week.

- Australia-New Zealand routes: USD 1,259 per container, a decrease of USD 54, down 4.1% week-on-week.

- South American routes: USD 3,018 per container, a decrease of USD 181, down 5.7% week-on-week.

- Japanese routes: The freight index was 964.10 points, with market freight rates rising slightly.