Shipping rates soar! U.S. West surged 26% in a single week, and U.S. East jumped 12%!

Driven by the sharp rise in U.S. line freight rates, the latest Shanghai Export Containerized Freight Index (SCFI) rose 5.09% to 979.11 points, stopping the decline and rebounding. Different routes due to their supply and demand fundamentals are different, the trend of differentiation.

Among them, the U.S. West, U.S. East per 40-foot container tariffs rose 26.14%, 12.42%; European routes tariffs remained stable, but a number of shipping companies have announced that on August 1, FAK rate increase, is expected to European line in early August will also be rising trend, ushering in a wave of sprints.

U.S. line: relies on the shipping company on one side of the cabin control, on the other side of the tariff increase, repeated operations to gradually achieve the goal of pulling up and stabilize tariffs. U.S. line in July cargo load than 5, June increased slightly improved, but still no better than before the epidemic, with the tariffs plummeted, small and medium-sized ships out of the market, the shipping company on July 15, the success of the trend of shouting up, up GRI 400-450 U.S. dollars / FEU, the rise in North America route tariffs are also reflected in the current period of the uptrend.

European line: the European market demand is low, has seen the decline convergence. Industry insiders pointed out that the European line freight rates have stopped falling, but still in the low gear consolidation. European shipping companies Maersk, Duffy, Hapag-Lloyd, etc. has issued a notice, August 1, Asia to Northern Europe FAK rate increase, per 20-foot container rose to 1025-1050 U.S. dollars, per 40-foot container rose to 1,900-1,950 U.S. dollars, to the spot market rate conversion, the rate of increase were as high as 30%, 50%, which is the European line this year since the first time to increase, and preview of the other routes rates may be adjusted upward. This is the first time this year that the European line has been raised, and it is predicted that the rates of other routes may also be raised.    

However, a number of shipping companies, freight forwarders previously said that the current market in Europe and the United States, the actual volume of goods is not much, to support the tariff increase is limited. We will see!