After the surge of ocean freight last year, the ocean freight has continued to decline since this year. A freight forwarding company told Red Star Capital Bureau that the container price of North American routes had dropped to 2400 dollars from 16000 last year.
Generally speaking, the third quarter is the traditional peak season of global marine container transport, but this year has encountered a rare situation of “low peak season”. A foreign trade enterprise revealed in an interview with the Red Star Capital Bureau that the recent orders had decreased by 20% year on year.
The foreign trade market is experiencing a decline in ocean freight, the suspension of some shipping company flights, weak demand in European and American countries, and a decrease in export orders.
The container price of $2400 is a sharp drop compared with last year. “Last year, shipping was too crazy. It was basically above 10000 dollars, and the highest was 16000 and 18000 dollars.
After the surge of ocean freight last year, the ocean freight has continued to decline since this year.
Freightos Baltic Container Freight Index (FBX) shows that as of September 26, the average FBX container shipping price was $4029, down 63.8% from the historical high in September last year. Among them, the freight rate of China/Far East North America West Coast route fell 85.7% compared with the highest level last year.
According to the data of Shanghai Shipping Exchange, the latest China Export Container Freight Index (CCFI) on September 23 was 2475.97 points, down 5.1% from the previous period and down for 15 consecutive weeks. All the freight rates of major routes fell, among which the routes of Bohong, South America, East America and West America dropped significantly, with weekly declines of 14.1%, 12.2%, 6.6% and 4% respectively