Transport demand in the Europe route gains support from stable recovery of main economies. Cargo volume keeps firm, and demand/supply condition is on the good condition. The average slot utilization rate leaving off Shanghai Port is 95% above, with some even full-loaded and spot rate goes north. On July 28, freight rate in the Shanghai-Europe route (covering seaborne surcharges) quotes USD963/TEU, up by 4.8% from one week ago. Market in the Mediterranean route has a similar performance as that in the Europe route, where the average slot utilization rate leaving off Shanghai Port in this route keeps around 95%. On July 28, freight rate in the Shanghai-Mediterranean route (covering seaborne surcharges) has a week-on-week increase of 3.6% to USD883/TEU.
U.S. economy recovers speed is fast, which spurs local consumption and supports transport demand in the North America route, where ship spaces are short-supplied and the average slot utilization rate reaches 100%. As a result, box liners carry out freight rate increase plan, leading spot rate increasing largely. On July 28, freight rate in the services from Shanghai to USWC and USEC (covering seaborne surcharges) quote USD1687/FEU and USD2685/FEU, surging by 37.6% and 20.2% from one previous week respectively.
In the Persian Gulf route, as transport demand improvement is unsatisfying after the Ramadan, the whole market keeps weak. Part of box liners take measures to limit capacity, but still fails to improve the market. The average slot utilization rate leaving off Shanghai Port hovers around 80%, with spot rate declining continuously. On July 28, freight rate in the Shanghai-Persian Gulf route (covering seaborne surcharges) has a week-on-week decrease of 3.8% to USD69/TEU.
Transport demand begins to increase in the Australia route, where, as box liners control capacity, demand/supply condition improves and the average slot utilization rate rebounds to around 90%. Box liners push up freight rate. On July 28, freight rate in the Shanghai-Australia/New Zealand route (covering seaborne surcharges) quotes USD513/TEU, surging by 40.5% from one week ago.
Cargo volume keeps on hot in the South America route, where the average slot utilization rate remains around 95%. Owing to the large increase previously, spot rat continues to slip. On July 28, freight rate in the Shanghai-South America route (covering seaborne surcharges) quotes USD3352/TEU, having a week-on-week slip of 4.7%.
Cargo volume and spot rate keep stable in the Japan route. On July 28, freight index in the China-Japan route quotes 667.14 points, up by 0.5% from one week ago.
