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At the end of 2022, global shipping prices will continue to fall, effectively driving commodity prices down.

October 8, 2022

Latest company news about At the end of 2022, global shipping prices will continue to fall, effectively driving commodity prices down.

At the end of 2022, global shipping prices will continue to fall, effectively driving commodity prices down.

Relative to the lukewarm price of the second quarter. Generally speaking, the third quarter is the traditional peak season for global maritime container transportation. However, in the third quarter of this year, the shipping market suffered from cold snaps, and the freight rates of major shipping routes fell sharply.

 

Taking the US-West route as an example, the Drewry World Container Freight Index (WCI) index report shows that on September 22, the spot price from Shanghai to Los Angeles dropped by 11% compared with last week to US$3,779/FEU (unit of measure), Compared with the same period last year, it has dropped by 70%. On September 27, the Freightos Baltic Container Freight Index (FBX) showed that the container freight rate for the Asia-West America route was US$2,943/FEU, down 80% from the beginning of the year.

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Maersk released the latest Asia-Pacific Market Insights on September 27 and pointed out that due to inflationary pressures and rising energy costs, the economic outlook in Europe and the United States has become increasingly pessimistic, and the container shipping market is facing strong headwinds. The latest economic data shows that from May to July, the regional container volume showed a negative growth. The total Asian export volume fell by 1.1%, and the import volume fell by 8.3%. Container rates have slipped, with SCFI falling sharply since June to around $3,000 per TEU in September, back to the same level as in December 2020.

 

Global shipping giant CMA CMA CGM also said in its second-quarter report released in September that demand for ocean freight has softened as inflationary pressures have led to a slowdown in consumer spending in recent weeks, and in some regions, these developments have led to a drop in spot freight rates.

 

"Although Europeans are now in low consumer sentiment due to high inflation, Christmas is still coming, and there is still a huge demand for Chinese goods." German buyers said that Chinese goods still have high prices in various indicators such as price, variety and quality. Great advantage. Although the survey showed that more than two-thirds of German companies expect problems with deliveries in December, he still believes that, according to the current situation of sea freight, it will be better than last year.

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ChemFine International Co., Ltd. (CFI Chemical Supply) established 2003,

CFI is a comprehensive chemical trading company dedicated to the procurement of fine chemicals around the world.

It is the best choice for you to stabilize your supply chain.

 

#shipping prices #Maersk #CFI

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