Weekly Report of China Export Container Transport Market
Export demand kept stable, pushing rate up in some trades
Volume remained stable on the China export box market this week. Comprehensive index rose, but the performance of component services varied.
On Mar. 9th, the China Containerized Freight Index issued by Shanghai Shipping Exchange stood at 1,002.71 points, surged 6.4% from last week; while the Shanghai Containerized Freight Index issued by SSE stood at 1,170.57 points, almost no change from last week.
In the Asia/Europe trade lane, volume barely changed and the average slot utilization rate stayed at around 90% this week when it came into the second week since lines carried out the rate rise plan at the beginning of this month.
As the relatively huge rate increase, no substantial volume growth and few capacity cut, the situation that supply outpaces demand has yet to change, and rate started to drop again. However, rate drop restrained this week due to the insistence of lines to hold up the rate. On Mar. 9th, the freight rate plus surcharges from Shanghai to base ports of Europe issued by SSE tumbled 1.7% to $1,388/TEU.
Although the rate hike, effective on Mar.1st, made the biggest growth ever, insiders told the increased rate could just meet the idle expenditure, but still under the breakeven point of lines. It was said that some lines had announced to lift rate again in April.
Space supply was stable this week in the North America service. Volume rose moderately as shippers wanted to secure their cargo on board when they heard that lines would raise rate on Mar.15th. The average slot utilization rate for the USWC and USEC services both went up to around 95%. Despite the firm demand, rate continued to inch down ahead of the rate rise. On Mar. 9th, the freight rates plus surcharges from Shanghai to base ports of USWC and USEC issued by SSE stood at $1,753/FEU and $2,914/FEU, respectively lost 0.3% and 0.1% from last week.
MSC planned to deploy two mega ships, one 12,500 teu vessel and one 11,600 teu vessel, in this trade lane, which means lines started to upgrade the capacity in Pacific, putting a great challenge for market to absorb capacity.
In the Australia and Singapore trade lane, rate soared near the middle of the month and volume elevated this week, with the average slot utilization rate back to around 90%. Rate started to pick up as some lines carried out rate hike. On Mar. 9th, the freight rate plus surcharges from Shanghai to base ports of the Australia and Singapore issued by SSE jumped up 3.6% from last week to $744/TEU.
Demand remained sluggish this week in the South America trade, where the average slot utilization rate lingered at 70% or so. However, the news that some carriers would lift rate shortly slowed the rate decline. On Mar. 9th, the freight rate plus surcharges from Shanghai to base ports of South America issued by SSE tumbled 1.5％ against last week to $1,271/TEU, compared to the decline of 4.8% last week.
In the Japan service, volume kept steady this week, where the average slot utilization rate marked at around 70%. It was reported that some lines started to levy $100/teu of General Bunker Floating (GBF) this week, which somewhat boosted the average rate level. On Mar. 9th, the freight index of the Japan service issued by SSE was reported at 762.78 points.
Indice Fletes Promedio Ex Shanghai
Indice Valor Promedio Naves Bulk
The Capital Link Container Index in is comprised of the following 6 companies: Alexander & Baldwin (NYSE: ALEX), Danaos Corp. (NYSE: DAC), Euroseas Ltd. (NASDAQ: ESEA), Global Ship Lease (NYSE: GSL), Horizon Lines Inc. (NYSE: HRZ) and Seaspan Corp. (NYSE: SSW).
jueves, 29 de marzo de 2012
lunes, 5 de marzo de 2012
China cuts GDP growth to 7.5 pct in 2012
Mar,5 -- China sets its GDP growth target at 7.5 percent this year, down from 8 percent in 2011, according to a government work report to be delivered by Premier Wen Jiabao at the parliament's annual session Monday.
This is the first time for the Chinese government to lower its economic growth target after keeping it around 8 percent for seven consecutive years.
"Here I wish to stress that in setting a slightly lower GDP growth rate, we hope to make it fit with targets in the Twelfth Five-Year Plan, and to guide people in all sectors to focus their work on accelerating the transformation of the pattern of economic development and making economic development more sustainable and efficient, so as to achieve higher-level, higher-quality development over a longer period of time," reads the report which was distributed to the media.
Previously, China has announced to target a 7 percent GDP growth from 2011 to 2015, the country's 12th Five-Year Plan period.
China's economy expanded by 9.2 percent in 2011 to 47.16 trillion yuan (about 7.49 trillion U.S. dollars) from a year earlier after it grew 10.3 percent in 2010. In the fourth quarter last year, the country's GDP growth decelerated to 8.9 percent year-on-year, the slowest pace in 10 quarters.
The government has set the main theme of this year's economic and social development as "make progress while maintaining stability" at a tone-setting central economic work conference in December last year.
China will continue to follow a proactive fiscal policy and a prudent monetary policy, carry out "timely and appropriate anticipatory adjustments and fine-tuning", and make its policies "more targeted, flexible, and anticipatory", according to the report.
"To achieve steady growth, we will continue to expand domestic demand and keep foreign demand stable, vigorously develop the real economy, work hard to counter the impact of various factors of instability and uncertainty at home and abroad, promptly resolve emerging issues that signal unfavorable trends, and maintain stable economic performance," reads the report.
The Chinese government has set the aim to hold this year's consumer price growth at around 4 percent. The country's consumer price index (CPI), a main gauge of inflation, rose 4.5 percent year-on-year in January, down from a 37-month high of 6.5 percent in July last year.
(Source:Xinhuanet)
This is the first time for the Chinese government to lower its economic growth target after keeping it around 8 percent for seven consecutive years.
"Here I wish to stress that in setting a slightly lower GDP growth rate, we hope to make it fit with targets in the Twelfth Five-Year Plan, and to guide people in all sectors to focus their work on accelerating the transformation of the pattern of economic development and making economic development more sustainable and efficient, so as to achieve higher-level, higher-quality development over a longer period of time," reads the report which was distributed to the media.
Previously, China has announced to target a 7 percent GDP growth from 2011 to 2015, the country's 12th Five-Year Plan period.
China's economy expanded by 9.2 percent in 2011 to 47.16 trillion yuan (about 7.49 trillion U.S. dollars) from a year earlier after it grew 10.3 percent in 2010. In the fourth quarter last year, the country's GDP growth decelerated to 8.9 percent year-on-year, the slowest pace in 10 quarters.
The government has set the main theme of this year's economic and social development as "make progress while maintaining stability" at a tone-setting central economic work conference in December last year.
China will continue to follow a proactive fiscal policy and a prudent monetary policy, carry out "timely and appropriate anticipatory adjustments and fine-tuning", and make its policies "more targeted, flexible, and anticipatory", according to the report.
"To achieve steady growth, we will continue to expand domestic demand and keep foreign demand stable, vigorously develop the real economy, work hard to counter the impact of various factors of instability and uncertainty at home and abroad, promptly resolve emerging issues that signal unfavorable trends, and maintain stable economic performance," reads the report.
The Chinese government has set the aim to hold this year's consumer price growth at around 4 percent. The country's consumer price index (CPI), a main gauge of inflation, rose 4.5 percent year-on-year in January, down from a 37-month high of 6.5 percent in July last year.
(Source:Xinhuanet)
CCFI Commentary Issue 08, 2012
Weekly Report of China Export Container Transport Market
(CCFI Commentary in Issue 08, 2012)
Lines mull rate increase as demand resurgence
The latest comprehensive indexes kept stable as China export box market saw general demand rose modestly this week. On Feb. 24th, the China Containerized Freight Index issued by Shanghai Shipping Exchange stood at 941.20 points, almost no change from last week; while the Shanghai Containerized Freight Index issued by SSE jumped up by 2.9% to 977.09 points.
With the reopen of domestic factories after the holiday, the China/Europe and China/Mediterranean services both saw a firm momentum in demand and rates kept stable this week. Separately, volume rose remarkably in East China, improving the supply and demand situation in this region, and also resurged moderately in North China. However, demand recovered slowly in South China as the shortage of labor affected the manufacturing. On Feb. 24th, the freight index of the Europe service issued by SSE stood at 981.45 points, barely changed from last week.
However, some domestic shippers rushed to book spaces this week in order to ship their goods out before the rate increase, ranging from $700/TEU-$800/TEU, which will be carried out by lines from the beginning of next month. It was reported that shippers who has a handful of goods found themselves difficult to book spaces because of the tight space condition for some voyages, which to some extent supported the average rate level this week. On Feb. 24th, the freight rate plus surcharges from Shanghai to base ports of the Europe issued by SSE soared by 16.2％ to $826/TEU.
One expert said though volume surged this week, part of goods, due to be shipped in March, were transported ahead of schedule, which could bring a severer challenge to the balance of supply and demand in March. Consequently, the success and sustainability of this rate increase plan could be influenced. It is known that some lines are mulling to cut the capacity in the Q2 to relieve the current overcapacity, in the hope of creating a favorable environment for the rate increase plan.
Despite ships taken out by lines during the holiday had come back into operation, capacity supply was stable on the North America service this week. Boosted by the considerable increase of volume, the average slot utilization rate of the US west and south coast services rose to around 85% and the figure for the US west and north coast services was close to 80%.Rates kept stable this week. The freight index of service from China to USWC issued by SSE declined slower this week. On Feb. 24th, it tumbled 0.6% from last week to 931.82 points.
The average slot utilization rate of the USEC service where carriers controlled capacity more strictly reached above 90% this week, and some ships were reported full-loaded. Rate went up firmly. On Feb. 24th, the freight index of service from China to USEC issued by SSE stood at 1,136.71 points, up 1.8% compared to last week.
Volume kept stagnant on the Australia and Singapore services this week, where the average slot utilization rate only remained at around 60% and rate continued to go south within the week, with rates for some voyages falling down to just above $600/TEU. On Feb. 24th, the freight rate plus surcharges from Shanghai to base ports of the Australia and Singapore issued by SSE fell 0.5% from last week to $726/TEU.
Encouraged by the recent rate increase plan on the major east-west trades, carriers subsequently announced to raise the rates by $200/TEU-$500/TEU on several secondary routes, including the Persian Gulf service, the subcontinent service, the West Africa service, the South Africa service and the South America service.
The Japan service saw volume continued to increase this week, thus the average slot utilization rate of service from Shanghai to Japan rebounded to about 65% and rate kept stable. On Feb. 24th, the freight index of the Japan service issued by SSE was reported at 770.51 points, almost equal to last week.
(CCFI Commentary in Issue 08, 2012)
Lines mull rate increase as demand resurgence
The latest comprehensive indexes kept stable as China export box market saw general demand rose modestly this week. On Feb. 24th, the China Containerized Freight Index issued by Shanghai Shipping Exchange stood at 941.20 points, almost no change from last week; while the Shanghai Containerized Freight Index issued by SSE jumped up by 2.9% to 977.09 points.
With the reopen of domestic factories after the holiday, the China/Europe and China/Mediterranean services both saw a firm momentum in demand and rates kept stable this week. Separately, volume rose remarkably in East China, improving the supply and demand situation in this region, and also resurged moderately in North China. However, demand recovered slowly in South China as the shortage of labor affected the manufacturing. On Feb. 24th, the freight index of the Europe service issued by SSE stood at 981.45 points, barely changed from last week.
However, some domestic shippers rushed to book spaces this week in order to ship their goods out before the rate increase, ranging from $700/TEU-$800/TEU, which will be carried out by lines from the beginning of next month. It was reported that shippers who has a handful of goods found themselves difficult to book spaces because of the tight space condition for some voyages, which to some extent supported the average rate level this week. On Feb. 24th, the freight rate plus surcharges from Shanghai to base ports of the Europe issued by SSE soared by 16.2％ to $826/TEU.
One expert said though volume surged this week, part of goods, due to be shipped in March, were transported ahead of schedule, which could bring a severer challenge to the balance of supply and demand in March. Consequently, the success and sustainability of this rate increase plan could be influenced. It is known that some lines are mulling to cut the capacity in the Q2 to relieve the current overcapacity, in the hope of creating a favorable environment for the rate increase plan.
Despite ships taken out by lines during the holiday had come back into operation, capacity supply was stable on the North America service this week. Boosted by the considerable increase of volume, the average slot utilization rate of the US west and south coast services rose to around 85% and the figure for the US west and north coast services was close to 80%.Rates kept stable this week. The freight index of service from China to USWC issued by SSE declined slower this week. On Feb. 24th, it tumbled 0.6% from last week to 931.82 points.
The average slot utilization rate of the USEC service where carriers controlled capacity more strictly reached above 90% this week, and some ships were reported full-loaded. Rate went up firmly. On Feb. 24th, the freight index of service from China to USEC issued by SSE stood at 1,136.71 points, up 1.8% compared to last week.
Volume kept stagnant on the Australia and Singapore services this week, where the average slot utilization rate only remained at around 60% and rate continued to go south within the week, with rates for some voyages falling down to just above $600/TEU. On Feb. 24th, the freight rate plus surcharges from Shanghai to base ports of the Australia and Singapore issued by SSE fell 0.5% from last week to $726/TEU.
Encouraged by the recent rate increase plan on the major east-west trades, carriers subsequently announced to raise the rates by $200/TEU-$500/TEU on several secondary routes, including the Persian Gulf service, the subcontinent service, the West Africa service, the South Africa service and the South America service.
The Japan service saw volume continued to increase this week, thus the average slot utilization rate of service from Shanghai to Japan rebounded to about 65% and rate kept stable. On Feb. 24th, the freight index of the Japan service issued by SSE was reported at 770.51 points, almost equal to last week.
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