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Shipping company losses intensified, European freight rates plummeted!

sofreight.com sofreight.com 2023-09-26 11:58:37


Shipping company losses intensified, European freight rates plummeted!



Recently, there are market rumors that the freight rate per 40-foot box on the European line has dropped from US0 to US0-850, which is lower than the cost price of US,000. The return freight price has dropped from US0-450 per large box to US-100.


Meanwhile, marine fuel prices are rising. It is reported that in the third quarter, marine fuel oil rose by 21% quarter-to-quarter as of the 22nd. In the fourth quarter, the four major international energy and financial institutions all predict that oil prices will increase, and the situation is not optimistic.


For large liner companies, the European line is the first trunk line to suffer losses. Industry insiders pointed out that the world's ultra-large container ships are deployed on the European line. These ships are very young, have high construction costs, and high fixed costs for idleness. It is difficult for shipping companies to idle a large number of ships, so they are not like the ships on the American line. The idle ratio is high and freight rates are much more stable.



China, Mongolia and Russia add new international road transport routes



According to CCTV News, the trial operation of international road transportation between China, Mongolia and Russia along the Asian Highway Network Line 4 (AH4) was launched in Urumqi City, Xinjiang Uygur Autonomous Region.


In recent years, China, Mongolia and Russia have cooperated closely in direct international road transportation, and the level of interconnection has been effectively improved.


This move will further promote the orderly flow of resource factors and deep market integration in the region, and play an important demonstration and leading role in building the China-Mongolia-Russia Economic Corridor.



Panama Canal ship traffic reduced due to drought



Data recently released by the Panama Canal Authority shows that from October 2022 to September 2023, the number of ships passing through the Panama Canal was 11,663, a year-on-year decrease of 3.6%.


The Panama Canal Authority stated that dry weather and lack of rain caused the maximum draft of the canal to drop to 13.41 meters, and the average number of ships passing through per day dropped from 38 to 36, and even dropped to 32 at one point.


It is expected that 12,527 ships will pass through the Panama Canal in 2023, with this number declining further by 2024.



Cross-border e-commerce freight volume increased by more than 200% year-on-year



At the North Bund International Shipping Forum, Meng Xun, deputy general manager of Shanghai Airport Logistics Development Co., Ltd., said: Cross-border e-commerce has become a new bright spot for freight this year, with the volume from January to July increasing by more than 200% year-on-year.

On the one hand, the reason is the support of national policies, and on the other hand, because Chinese products are cheap and high-quality, the demand in the European and American markets is increasing.