According to our company learned: Drury's latest global shipping market report data show that: the world container freight index (WCI) last week has recorded the 28th consecutive week of decline, and, compared with the previous weeks, the freight market decline again increased.
Freight rates from Shanghai to the Port of Los Angeles plunged 9 per cent last week, close to a stock market "limit," dropping $565 per container!
Last week, the World Container Freight index fell 5%， to $5,661.69 per 40-foot container. Overall freight rates have fallen by 43% compared with the same period last year
1.Shanghai-los Angeles fell $565, or 9%, to $5,562
2.Shanghai-rotterdam fell $427, or 5%, to $7,583
3.Shanghai - Genoa fell $420 (5%) to $7,971
4.Shanghai-new York fell $265, or 3%, to $9,304
According to Lars Jensen, CEO of Vespucci Maritime, the capacity shortage that underpinned the surge in ocean freight rates over the past two years is over and rates will continue to fall.
Flight cancellations by shipping companies hit a new high
The decline in the sea freight market has been increasing. Shipping companies have stepped up capacity management efforts to prevent further sharp drops in spot freight rates during and around China's Golden Week holiday early next month, and to ensure that rates do not fall to pre-pandemic levels for the first time. The flight cancellation rate has reached a new high.
According to Drury's latest data, 13% of the 756 scheduled sailings in the next five weeks (weeks 36 to 40) on major routes such as trans-Pacific, Trans-Atlantic and Asian-Nordic and Mediterranean have been canceled!
During this period, 59% of the empty voyages will take place in eastbound trans-Pacific, 26% in Asia-Nordic and Mediterranean, and 15% in westbound trans-Atlantic trade.
In terms of the suspension arrangements for the next five weeks (36-40 weeks), the three alliances have cancelled 78 sailings in total, among which:
THE league announced 32 cancellations
The 2M alliance announced 27 cancellations
OA league cancels 19 times
Shipping companies stop jumping port summary
Maersk issued a port hopping notice
Recently, Maersk issued a notice of schedule adjustment, cancel a number of Asian to western America voyages.
Post time: Sep-09-2022