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Sea freight has plummeted, and some routes have fallen by more than 80%!
Release time:
02 Oct,2022
“The prices of different shipping companies are different.”On September 27th, Mr. Chen, a staff member of a freight forwarding company in Shenzhen, introduced to the Red Star Capital Bureau that a 40-foot standard container was sent to the United States, “HPL's 2,000 U.S. dollars, EMC's 2,400 U.S. dollars, MSC's 2,400 U.S. dollars.""(Note: HPL, EMC, and MSC are the abbreviations of the world-renowned shipping companies Hapag-Lloyd, Evergreen Shipping, and Mediterranean Shipping respectively)
Mr. Liu, a staff member of another freight forwarding company, also said that the quotations of different shipping companies do fluctuate, but the overall price is about 3,000 US dollars, and there is room for price reduction.
The container price of US 22,400 has plummeted compared to last year.“Shipping was crazy last year. It was basically above 10,000 U.S. dollars, and the highest was 16,000 or 18,000 U.S. dollars.”Mr. Chen said.
After experiencing the skyrocketing sea freight last year, sea freight has continued to decline this year.
According to the Freightos Baltic Container Freight Index (FBX), as of September 26, the average FBX container shipping price was US44,029, which was down 63.8% from the historical high in September last year.Among them, the freight rate of the China/Far East—North America West Coast route fell by 85.7% from the highest freight rate level last year.
According to data from the Shanghai Shipping Exchange, the latest China Export container Freight Index (CCFI) was 2,475.97 points on September 23, down 5.1% from the previous period and has fallen for 15 consecutive weeks.Freight rates on all major routes fell. Among them, the routes of Bohong, South America, the East and West of the United States fell significantly, with weekly declines of 14.1%, 12.2%, 6.6% and 4.9%, respectively.
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Address: 5101, Block B, World Trade Center, No. 156 Jiefang Road, Zhifu District, Yantai City, Shandong Province, China
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