Recently, there have been many changes in the international shipping market, with trends in shipping prices, route adjustments, market supply and demand, foreign trade enterprise situation, and market uncertainty. The following is a summary of relevant information from Huilida:

1、 Ocean freight prices continue to rise

Market background: Since 2024, due to various factors, the sea freight prices of China's exports have continued to rise.

Index change: The latest Shanghai Export Container Freight Index (SCFI) rose 194.35 points to 3379.22 points, marking a ten week continuous increase.

Airline freight rates: The market freight rates for exports from Shanghai Port to basic ports in the West and East of the United States are $6906/FEU and $7993/FEU, respectively, an increase of 11.2% and 7.3% compared to the previous period.

Shipping Company Price Adjustment: Several shipping companies have announced further price increases, with PSS (Peak Season Surcharge) reaching up to $5000. Maersk has raised the FAK rates (all freight rates) from major Asian ports to multiple European destination ports, with the highest reaching $9400/FEU, nearly doubling from mid May.

2、 Shipping companies launch new routes

Market strategy: In order to expand coverage and improve operational efficiency, multiple shipping companies have launched new routes in the Asian region.

Specific case: Xiamen Port Haitian Terminal has added a new RCEP route, providing the fastest service from Xiamen to eastern Malaysia (East Malaysia), with only 5 days to Kota Kinabalu in East Malaysia and 8 days to Bintulu.

3、 Tight supply and demand in the maritime market

Market situation: The arrival of peak season has led to tight transportation capacity, and shipping companies have announced price increases.

Mismatch between supply and demand: The supply chain disorder caused by the mismatch between supply and demand will continue, and domestic export competition and overseas inventory replenishment will form a demand resonance, which will support short-term freight rates.

Influencing factors: The International Maritime Organization's discussion on shipping carbon taxes, the Red Sea crisis, and global trade uncertainty all have an impact on the maritime market.

4、 Foreign trade enterprises are under pressure

Cost pressure: The soaring sea freight prices have put pressure on foreign trade enterprises, especially for low value products and large items.

Enterprise response: Some companies choose to raise their platform prices to cope with the increase in shipping costs, while some brands' overseas enterprises need to bear higher shipping costs on their own.

Specific case: Zhiou Technology, a leading cross-border home e-commerce company, stated in its performance report that its net profit slightly decreased in the first quarter of 2024, partly due to an increase in sea freight and a rise in final shipping costs.

5、 Uncertainty in the maritime market

Market forecast: The maritime market is facing uncertainty, including fluctuations in freight rates, policy changes, and global trade trends.

Specific factors such as the Red Sea crisis, discussions on shipping carbon taxes by the International Maritime Organization, and changes in global trade policies may all have an impact on the shipping market.

Corporate strategy: Faced with uncertainty, shipping companies and foreign trade enterprises need to closely monitor market dynamics and flexibly adjust their strategies to cope with challenges.

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