Global sea freight costs have fallen precipitously


Data released by the Shanghai Shipping Exchange on the 9th showed that the Shanghai Export container Comprehensive tariff Index was 2562.12 points, down 10% from the previous period and down for 13 consecutive weeks.In the 35 weekly reports released by the agency this year, there have been 30 weeks of declines.

According to data from the Baltic Sea Shipping Exchange, in January this year, the price of a 40-foot container on the route from China to the West coast of the United States was about US110,000. In August, the price was about US44,000, a 60% plunge, compared to the average price of US220,000 at the highest point last year, a decline of more than 80%.The Thai-Vietnam route market in Southeast Asia is highly volatile. Due to the large gap in freight demand on the route, it fell by 37.1% in a single week. The spot market booking price fell sharply, and even a small amount of zero freight and negative freight occurred.