Sea freight finally ushered in an inflection point in mid-July, and the overall consolidation market showed a correction.
The new Shanghai export container Composite Freight rate Index (SCFI) ended a 13-week streak of growth. According to the Shanghai Shipping Exchange's weekly report on the container shipping market released on July 12, the weekly decline of SCFI was 1.6%.
In addition to the increase in freight rates from the Far East to Europe, the remaining major routes (China to the Mediterranean, China to North America, China to South America, etc.) fell across the board, especially the market freight rates for exports from the Port of Shanghai to Hong Kong fell 5.5% from the previous period to US $7654 /FEU.
Are sea freight rates about to peak down? From the perspective of the industry, compared with the situation that there will be a significant correction after the freight rate peaks in 2017-2019, the freight rate may have a limited correction range after the peak this year, that is, there will be no significant correction.
At this stage, there is a downward trend in sea freight, but it cannot be said that it has peaked, and the volume of goods in the North American market has not been significantly reduced, and the increase in shipping capacity is the most important factor affecting freight rates.
