The actions of the Houthis have caused freight rates to continue to rise, and there is no sign of falling back for the time being. At present, the freight rates of the four major routes and Southeast Asian routes are all showing an upward trend......
Another box ship was attacked, and the Red Sea became more and more fierce
On the evening of June 26, local time, Yemeni Houthi spokesman Yahya Sareya said in a speech that the Houthis and the Iraqi militia armed "Islamic Resistance Group" carried out a joint operation and attacked an Israeli ship "MSC Manzanillo" in the port of Haifa through drones.
IN ADDITION, ON THE EVENING OF JUNE 26, LOCAL TIME, YEMEN'S HOUTHIS RELEASED VIDEO FOOTAGE OF THE PREVIOUS ATTACK ON THE ISRAELI SHIP "MSC SARAH V", WHICH IS THE FIRST TIME THAT THE HOUTHIS HAVE OFFICIALLY ANNOUNCED THAT THEY HAVE AND USED HYPERSONIC MISSILES.
Yahya Sareya said the Houthis will continue to carry out joint military operations in support of the Palestinian people until the aggression against Palestine ceases and the blockade against the Palestinian people is lifted.
Separately, the British Office of Maritime Trade Operations, earlier reported that a missile exploded near a merchant ship south of the Yemeni port city of Aden. Reports indicate that no crew members were injured and the ship continued sailing.
After the outbreak of a new round of the Palestinian-Israeli conflict last October, Yemen's Houthi rebels used drones and missiles to repeatedly attack targets in Red Sea waters. In early May, Yemen's Houthi rebels said they would expand their strikes against all vessels of companies that have traded with Israel over the past few months in the Red Sea, Arabian Sea, Indian Ocean and Mediterranean, regardless of their nationality or port of destination.
In addition to the more frequent and precise Houthi attacks on merchant ships sailing in the Red Sea and the Arabian Sea, recent oil spills, strikes in many ports in Europe and the United States, and port congestion have also added many uncertainties to the global maritime market.
Vessel detours, high demand, port congestion leading to further capacity shortages, and the threat of strikes at several major ports have exacerbated global supply chain tensions and continued to push up freight rates.
The first route with a freight rate of more than 10,000 yuan appeared
Recently, the global container shipping market has continued to show a strong upward trend, and the peak season effect has significantly boosted the increase in freight rates. According to the latest Shanghai Export Container Freight Index (SCFI) on the 28th, the weekly increase was as high as 6.87% to 3714.32 points, and it has risen for 12 consecutive weeks.
Among the major routes, the European routes, which had a mediocre performance last week, once again showed a strong rally, with freight rates rising by 12.5%. At the same time, the weekly rate increase of the Mediterranean route and the US East route also exceeded 10%. Among them, the freight rate of the European route rose by 12.55% to break through the $5,000/TEU barrier, and the freight rate of the East US route rose by 12.05% to break through the $9,000/FEU mark.
As the third quarter entered the traditional peak season of transportation demand in Europe and the United States, coupled with the impact of trade frictions and tariffs, exporters rushed to ship in advance to cope with market changes. At the same time, European and American retailers are also worried that the Red Sea crisis will also delay delivery and increase inventory, resulting in the current European and American routes are full and booked until the end of July.
Shipping companies have successfully pushed up freight rates in May and June.
Large freight forwarding companies revealed that from July 1, in addition to the US East route due to the dock workers' strike crisis caused by the freight rate increase of 2,000 US dollars, the US West and European routes have increased by 1,000-1,200 US dollars per large container. Most of the Mediterranean routes maintain the same tariff of $7,000 per large container. However, it is expected that in the next wave of price increases on July 15, the US West may loosen some gains.
A number of freight forwarding companies pointed out that according to the price increase plan on July 1, the freight rate of the West US route will be increased from 7100-7400 US dollars to 8100-8400 US dollars, and the US East route will rise from 8300-8400 US dollars to 10300-10400 US dollars, becoming the first route with a freight rate of more than 10,000 yuan.
The European route will rise from $7,500 to $8,500, while the Mediterranean route is expected to remain around $7,000, with perhaps some companies rising slightly by $200-$300.
However, the market also reported that many shipping companies such as Mediterranean Shipping and CMA CGM plan to launch overtime ships in July, and CMA CGM offers preferential freight rates for large European customers; At the same time, some shipping companies that withdrew from European and American routes after the epidemic have also begun to return to this route.
As a result, the industry estimates that the planned increase of $1,000 to $2,000 per large container on the USWC and Europe routes on July 15 may be difficult to achieve.
The weekly limited price of containers for long-term customers on the USWC route has been relaxed, and some shipping companies even predict that the freight rate of the European route will only rise by 200-300 US dollars. In short, the impact of multiple factors on the rise in freight rates in mid-July remains to be seen.
The latest tariff:
The freight rate from the Far East to Europe reached 4,880 US dollars / TEU, up 544 US dollars from last week, a weekly increase of 12.55%;
The freight rate from the Far East to the Mediterranean reached 5,387 US dollars / TEU, an increase of 532 US dollars or 10.96% from last week.
The freight rate from the Far East to the West of the United States reached $7,830/FEU, an increase of $657 or 9.16% from last week;
The freight rate from the Far East to the United States reached $9,274/FEU, a surge of $997 or 12.05% from last week.
The freight rate per container of the Persian Gulf line was 2,711 US dollars, down 182 US dollars per week, or 6.29%;
The freight rate per container of the South American line (Santos) was $8,854, up $296 or 3.46% weekly;
The freight rate of Southeast Asia Line (Singapore) was 743 US dollars per container, up 4 US dollars per week, or 0.54%.
Nowadays, the supply of spot space is still tight, and the freight rate continues to rise, and there are shipment plans in the near future.
Source: Outer Shipping