The container ship shipping market demand continues to be strong, and the loading rate of container ships is still at the highest level recently. Due to the implementation of the new economic stimulus plan by the US government, market demand has been further boosted and port congestion in the US has been aggravated.

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Industry analysts pointed out that although the spot freight rates on the Asia-Europe route have recently cooled, the freight rates on the trans-Pacific route remain high. Since the Spring Festival, the Far East-US East or US West spot freight rates have hardly changed. The freight rate from Mainland China to the US West recently was 3,984 USD/FEU, an increase of 0.4% from five weeks ago. The freight rate from China to the East of the United States dropped by 0.1% from the same period to US$4,795/FEU.

A report from the Shanghai Shipping Exchange pointed out that the spot freight rates on the Asia-Europe route showed signs of further decline recently, indicating that the blockage of the logistics supply chain between Asia and Europe has been eased. The Shanghai Export Container Freight Index shows that the spot freight rate for containers from China to Northern Europe fell to 3665 USD/TEU, a 10.8% drop compared to the price before the Spring Festival; the spot freight rate for containers in the Mediterranean region of China dropped 8.9% to 3910 USD/ TEU.

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The Shanghai Shipping Exchange stated that weaker demand will help ease congestion in European ports. Recently, the efficiency of the shipping supply chain has significantly improved. At present, the capacity of the Asia-Europe route and market demand are tending to balance. Although the spot price appears to be weak, the freight rate is still at a high level, and as the pressure on the supply chain gradually eases, the freight rate is expected to return to a normal level after a period of adjustment.

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