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As August comes, freight rates on European and American routes will rise!

so freight.com so freight.com 2023-08-03 16:08:55

NO.1 The freight rate of European and American routes has risen, and the increase in Europe has exceeded 30%


Since July, the sea freight rate on the US line has jumped several times, followed by Europe. According to the data, on July 28, the freight rate from Shanghai to Europe rose by more than 30%, and the West America rose by 10.1% (38% in the whole July).


The rise of the two major freight rates pushed up the latest Shanghai export container freight index SCFI rose 6.5% to 1029.23 points, returning to the thousand-point mark. This round of market is also an early reflection of shipping companies' promotion of price increases for European and American routes in August.


According to the industry, in the case of limited increase in cargo volume in Europe and the United States and continuous investment in new shipping capacity, shipping companies are approaching the limit of space reduction and shift reduction. Whether they can maintain the upward trend of freight rates in the first week of August will become an important focus of observation.


NO.2 Canadian dock workers once again threatened to strike


Dockworkers on Canada’s west coast have rejected a proposed mediation deal submitted by the federal government, raising the prospect of another labor disruption at the country’s busiest port, according to a new report from Bloomberg. This means that since July 1, during the strike period, the daily backlog of 700 million yuan of goods at the terminal has continued to be cleared and transported.


Members of the International Terminal and Warehouse Union (ILWU) rejected a deal that would have raised wages by 19.2 percent over four years, according to a statement from the British Columbia Maritime Employers Association (BCMEA) late Friday. The union leadership advised its members to vote in favor of the strike.


NO.3 "China Southern Airlines Express" International Product Officially Released


China Southern Airlines Logistics recently held a "China Southern Airlines Express" international product launch conference in Guangzhou, officially launching the "China Southern Airlines Express" international products that cover Southeast Asia, Europe, America, Australia, New Zealand, Japan, South Korea and other places with the highest timeliness, helping to connect the global supply chain.


The "China Southern Airlines Express" international product is the highest transportation timelines product launched by China Southern Airlines Logistics for the international market on the basis of summarizing the operation experience of domestic express products, further strengthening resource management, enriching product connotation, and upgrading service standards. Customers can enjoy priority approval of shipping space, Five major benefits including late delivery at departure, priority installation, fast pick-up at arrival, and brand-new electronic platform experience.


NO.4 American trucking giant Yellow closed down


Source: CCTV Finance Invasion and Deletion


Yellow, the 99-year-old trucking giant in the United States, announced its bankruptcy on Sunday local time and will immediately cease operations, resulting in about 30,000 employees losing their jobs.


The closure is the largest in the history of the U.S. trucking industry in terms of lost jobs and income.


The company, which received 0 million in federal pandemic relief funds in 2020 but failed to turn around its fortunes, is preparing to file for bankruptcy and is in talks to sell all or part of the business.


NO.5 my country's new ship orders are expected to exceed 50 million dwt this year


The China Shipbuilding Association stated on July 31 that it is expected that the global shipbuilding completion volume will remain at a relatively high level of 90 million deadweight tons in 2023, the order volume for new ships will exceed 100 million deadweight tons, and the number of orders in hand will remain at around 220 million deadweight tons.


my country's shipbuilding completions will exceed 42 million deadweight tons, new ship orders will exceed 50 million deadweight tons, and hand-held ship orders will remain at about 120 million deadweight tons.