NEWS

This week, the market entered the traditional peak season, but the growth rate of pallets is still not as fast as the growth rate of capacity, but the SCFI index continued to recover sharply under the suspension of airlines and the plan to push up freight rates. On Friday, the Shanghai Export Container Freight Index (SCFI) stood at 745.45 points, up 16.36 percent from last week.

Yangtze River view: the more concentrated alliance does not form a strong constraint on capacity, but with July into the industry peak season, the rebound will dominate the July-August market, but the absolute height of the freight rate rebound is still difficult to be optimistic.

European routes: with the arrival of the traditional peak season, the market volume has increased, coupled with a number of carriers to take measures to suspend flights, reduce some of the capacity, the market supply and demand has improved, so a number of carriers have followed up and raised freight rates. On Friday, the freight rates for Shanghai's exports to Europe and the Mediterranean were 879(60.40 per cent) and 941(39.41 per cent) USD/TEU, respectively.

North American routes: the growth of market volume is not obvious, coupled with the impact of rapid growth in capacity, the average utilization rate of shipping space on each route is only about 90%. Although most carriers began to implement the tariff increase plan, but under the pressure of market competition, the increase is limited.

On Friday
, the freight rates on the China-US-West and US-East routes were 868.31(-1.91 per cent) and 116.42(-2.02 per cent) points, respectively. The changes in the four typical ship prices are as follows: VLCC crude oil tanker TCE closed at US $55910/day, down 3.54 from last week, Suezmax crude oil tanker TCE closed at US $51724/day, down 15.55 from last week, Aframax crude oil tanker TCE closed at US $43762/day, down 27.98 from last week, and MR refined oil tanker TCE closed at US $24204/day, down 5.46 from last week.

Changjiang view: slow recovery in oil prices and higher utilization of oil storage vessels is conducive to the maintenance of oil freight rates, taking into account last year's low base, tanker owners' earnings can still maintain a high growth rate.