Sea Freight Rate Increase After Labor day Holiday

As the Container Transport on the EU Line Seek to Raise the Fare, Heat in Crude Oil Transportation Begins Fading

The Container Market: This week, the volume of China’s export on container transportation market is rising steadily, the demand from the Europe, the United States and other major routes experience certain amount of growth. The freight index continues to go upward this week. The volume of goods transported through the European and Mediterranean routes demonstrates a steady trend and the freight rates increases slightly after two major price rises.

Shipping Market This Week: As the Container Transport on the EU Line Seek to Raise the Fare, Heat in Crude Oil Transportation Begins Fading

1?The container market
This week, the volume of China’s export container transportation market rose steadily, Europe and the United States and other major routes transport demand growth in the freight index continue to grow upward this week . European routes volume of steady, experienced two prices, freight rates have pulled back slightly. Meanwhile, nine shipping companies, including the Maersk, Hapag-Lloyd, COSCO Container Lines, China Shipping Container transportation announced on May 1st that they would raise the freight rates on the European and Mediterranean route, with an average increase of 400 USD/TEU. if succeeded, the average tariff of the Asia-Europe routes will return to or exceed the its peak in early 2010. On the basis of a second price rise on the weekend (15th, April), the American route achieved a space utilization rate of over 95 %. And the America West Route fares rises by 12.7 percent to $ 2,285 / FEU.

2) Dry bulk Market
After the Easter holiday, the market has become more active. reign Easter this week , market sentiment has been warmer , the BDI kept an slightly upward trend with the development of Capesize and Panamax vessels, among which the increase of the Capesize is driven by the rising demand of the imported ore resulted from the de-inventory process of Chinese iron ore. And the new pallet of coal and grain has supported the panamax index to rise higher than 10%. Meanwhile, despite the earthquake in Indonesia this Wednesday, the production of coal was slightly influenced as many major coal mine areas are far from the earth stricken region and these coal mines are primarily in the open air.

3. The Tanker Market
This week, although the international oil price shows a fluctuation combined with a downward trend, it maintains its high level. On Friday, the Brent crude oil from North Sea stood at $ 122.08 / barrel, a 1.5% down in one week.

Affected by the Easter holiday, this week’s crude oil transportation market transactions fell greatly. The freight rate of all types of ships experienced an overall fell. And the freight fare of the refined oil market varies greatly with the overall index remain stable. Viewing from an overall perspective, this week the international tanker transportation market indicates four typical ship market changes as follows: of VLCC : somewhat lower ; Suezmax : low still ; Aframax : shrinkage in turnover and lower tariff; Oil Tanker : transaction reduced with varied performance.

4) Coastal Bulk Market
This week Coastal Freight Index continued to decline. In the Shanghai Shipping Exchange, On April 13, China’s coastal areas (bulk) freight index closed at 1185.11 points, which fell 1.8 percent when compared with last week. Coastal coal, metal ore and grain freight rates fell by 2.2%, 1.2% and 3.1% respectively

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