freight rates fell and ended four consecutive rises! European and American consumer demand slows
cargo expansion affects consumer demand in Europe and the United States the latest week Shanghai export container freight index.(SCFI)ended a four-week streak of gains and losses again.
6month17Shanghai Air Exchange Announces LatestSCFIComposite Index Down0.27 percent4221.96point fell across the board. Each of the U.S. East LineFEUFreight Declines2510073dollar falls for week0.25 percentcontinued last year.8month;US West Line perFEUfreight rates fall1417489dollar falls for week1.85 percentlast year.12month.
at the same time last week the European line everyTEUfreight rates fall505793dollar falls for week0.86 percentlast year.6month;Mediterranean Line perTEUfreight rates fall706487dollar falls for week1.07 percent.
industry insiders pointed out that inflation, unsealing and other two major factors are changing consumer behavior in Europe and the United States. Inflation affects consumer confidence in Europe and the United States. After unsealing, consumption from goods to services may slow down the momentum of manufacturing and retail industries in Europe and the United States. Generally speaking6month7month shipping space is the traditional peak season for shipping. Christmas at the end of the year and the start of the Thanksgiving shopping season will make the impact of inflation and unsealing on demand in Europe and the United States clearer.
shipping giant Maersk's recent report also pointed to the risk of recession, saying whether consumers will buy Thanksgiving and Christmas goods in normal quantities and budgets has not been determined.
In addition, the negotiation of labor-capital exchange at the US-West Terminal is also an uncertain factor. According to past experience, the shipper will pull the goods in advance, but so far this year, it has not been possible to negotiate with both employers and employees.6month14-day statement that the negotiations continue and the hope for an agreement that is fair to both sides does not matter if the strike is not taken lightly.
, in addition to the failure of the US-West terminal negotiations, there have also been intimidating strikes at ports in Asia and Europe, such as Hamburg, Germany's largest port.30years South Korean union truck drivers8days of strike. Therefore, even if the employers and employees of the US-West Terminal are committed to reaching an agreement, the outcome of the subsequent negotiations remains to be seen.
Although the market outlook is still unclear, overall freight rates remain high.SCFIindex from2020year4month's816points all the way up to this year6month17day.4221.96points still up417.39 percentis equivalent to four times the price before the outbreak, so the company's performance this year is still very impressive.
