1. Shipping market dynamics:

At present, some European ports, including the UK's largest container port, the Port of Felixstowe, the largest European port of Rotterdam in the Netherlands, and the second largest port in Europe, the Port of Antwerp in Belgium, have experienced port congestion, resulting in cargo accumulation and ship delays. In addition, some countries are still on strike, which will reduce the maneuverability of ships in ports and affect the docking of ships. After the ships arrive at the port, berthing will become a major problem. After the strike is over, mountains of cargo will cause serious congestion in the port.

In the United States, the congestion in Los Angeles/Long Beach may spread across the west coast of the United States, and the congestion at all major terminals has further deteriorated.

Container ships berthed in Los Angeles and Long Beach need to wait an average of 8.3 days before unloading, which is longer than the previous 8.0 days. According to reports, 35-40 ships berth at anchorages and wait every day. Congestion at the two main terminals in the US West has been hit. record

Due to rising freight rates, many retailers temporarily shelved their order plans. Among them, the euro zone's response is the most obvious. The rising cost of imported goods from Asia is leading to a shortage of goods in Europe. From furniture, bicycles, sports equipment to children's toys, the shortage is affecting the daily lives of Europeans.

Affected by multiple factors such as the new crown epidemic, severe container shortage, terminal congestion, extreme weather, etc., after four consecutive months of decline in the global main route's comprehensive schedule rate index, it continued to decline in January 2021, refreshing the index again since 2019 The lowest record since the launch-22.36%.

2. Trends in freight rates in the shipping market

On February 20, the latest Baltic Freight Index Asia to Nordic freight rate rose 3% from the previous week, reaching about $8400 /40`GP, up 145% from the beginning of December, and up 428% from the same period last year;

Spot prices from Asia to Eastern Mediterranean ports rose by 3% this week, reaching approximately $7800/40`GP, a 270% increase from 12 months ago.

February 19: Shanghai Export Container Settlement Freight Index

European routes (basic port): 5987.75 up 1.1%

US West route (basic port): 2405.31 down 1.4%

3. Trends of Tianjin Port Freight Rates

1. Japan and South Korea routes: After the Spring Festival, the freight rates of the Korean routes remain the same as before the holiday, and there is no significant change; the Japanese partial port routes will be jointly issued by companies such as Nanxing, Koryo, Tianjing, Changjin, and Toei. It is expected to be 3 Shipping costs will rise sharply on September 9th, and the basic offer is $650/20`GP $1200/40`GP/HQ

2. Southeast Asia routes: Since February 22, Southeast Asia has slightly reduced prices, and Ho Chi Minh Port in Vietnam has become a key port for many shipowners to request cargo.

3. Middle East route: The Middle East India-Pakistan route has a slight price cut since March 1, the price cut is about $100, and the reduction rate is 5%-10%

4. African routes: West Africa, East Africa, South Africa, and Indian Ocean routes have all been slightly adjusted downwards, ranging from $100-200, and the rate of decrease is about 10%.

5. Australia and New Zealand routes: a slight reduction from March 1st, with a reduction rate of 5%-10%

6. Europe, North America and North Africa routes: basically maintain the pre-holiday freight rates until March 14th. Only MSK ships will have a slight price reduction starting from March 10th, ranging from 5% to 10%.

7. South American West, South American East, and Caribbean routes: a slight decline began in March, and the rate of reduction does not exceed 5%.

 

According to the above analysis, after the Spring Festival, except for some individual routes, most of the routes remained stable or declined slightly. According to the experience analysis of previous years, since the two weeks after the Spring Festival will be out of stock for two weeks, the freight rate will be loosened. The epidemic situation in Shanghai is gradually improving. After the cargo volume recovers, it may maintain the current level of freight rates or steadily and slowly decrease.