The Shanghai Stock Exchange announced today (15) the latest SCFI composite index (Shanghai Export Container Freight Index), showing a 14th consecutive drop to 4,195.98 points, down 32.67 points from last week, hitting the lowest point since late July last year. , Cargo operators revealed that with Shanghai gradually entering the stage of resumption of work, the volume of seaborne cargo is expected to increase rapidly from May. Many shipping companies, including Evergreen (2603-TW), Yang Ming (2609-TW), it has been announced that the GRI (comprehensive rate surcharge) from Asia to the United States will be raised again in May, and the freight rate is expected to stabilize.
Due to the recent movement of goods to ports other than Shanghai for shipment, first observe the changes in the CCFI index (China Export Container Freight Index), which fell 0.6% from last week to 3109.78 points, indicating that the epidemic in China has caused manufacturers to encounter bottlenecks in their shipments.
According to CCFI, the freight rates of the three major long-haul routes do not have any obvious doubts about the pullback. The freight rates of the US west line dropped slightly by 0.7% this week, the US east line dropped slightly by 0.1%, and the European line rebounded slightly by 0.3%.
If you look at SCFI, it has gradually slowed down since mid-January this year. In addition to the seasonal factors of the Lunar New Year, the epidemic in China has heated up again since March. Shanghai and many key manufacturing towns in China have successively implemented mandatory clearing, which in turn affects seaborne cargo. .
However, both the shipping industry and the freight forwarder believe that as China gradually unblocks, the backlog of cargo is expected to see another wave of cargo rush.
Cargo operators pointed out that since Shanghai is gradually entering the stage of resumption of work, they are optimistic that the volume of seaborne cargo is expected to increase rapidly from May, which is expected to push up the rebound in freight rates. Many shipping companies, including Evergreen (2603-TW), Yang Ming (2609-TW) has announced that it will increase the GRI (Comprehensive Rate Surcharge) from Asia to the US again in May.
The freight forwarder said that the GRI increase this time will range from an average of 1,000-2,000 US dollars, which is about 10-20% of the freight.
In addition, a legal person mentioned that the current inventory-to-sales ratio in the United States is still low, and the freight rates of the East and West routes are also in high-end fluctuations during the off-season, and the outlook is positive.