Europe economy improves slowly, which dampens transport demand from growing in the Europe route, where cargo volume has a flat performance, demand/supply condition keeps firm, and the average slot utilization rate sustains around 95%. As cargo volume is insufficient, freight rate begins to slide down. On July 7, freight rate in the Shanghai-Mediterranean route (covering seaborne surcharges) quotes USD969/TEU, down by 4.5% comparing with last week. Market has a similar performance as that in the Mediterranean route, where the average slot utilization rate is nearly 95%, with freight rate falling. On July 7, freight rate in the Shanghai-Mediterranean route (covering seaborne surcharges) quote USD906/TEU, falling by 4.7% against one week ago.
U.S. economy has a slower growth, which drags down the transport demand in the North America route. Both the average slot utilization rates in the USWC and USEC keep around 95%. Nevertheless, owing to the large increase previously, freight rate begins to slide down this week. On July 7, freight rates in the routes from Shanghai to USWC and USEC (covering seaborne surcharges) quote USD1333/FEU and USD2307/FEU, down by 3.3% and 2.1% from one previous week ago.
Transport demand slides somehow in the Persian Gulf route, where part box liners limit capacity, but fails to improve demand/supply condition. The average slot utilization rate fell to around 90%, with spot rate tumbling. On July 7, freight rate in the Shanghai-Persian Gulf route (covering seaborne surcharges) quote USD846/TEU, tumbling by 7.0% against one week ago.
In the Australia route, transport demand continues on the weak condition. Box liners take measures to limit capacity, but the average slot utilization rate leaving off Shanghai Port hovers around 80%, with spot rate slip. On July 7, freight rate in the Shanghai-Australia route (covering seaborne surcharges) has a week-on-week slip of 5.1% to USD374/TEU.
Transport demand keeps on the relatively high level in the South America route, where the whole capacity is controlled effectively, which improves demand/supply condition. Fright rate stands on the relatively high level after several round of increase. On July 7, freight rate in the Shanghai-South America route (covering seaborne surcharges) quotes USD3795/TEU, down by 0.4% from one week ago.
In the Japan route, cargo volume and spot rate keep stable. On July 7, freight index in the China-Japan route quotes 655.00 points. On July 7, freight index in the China-Japan route quotes 655.00 points.
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