Festival has yet to resume shipments to Europe led by market route

This week, China's export container transportation market is subject to "eleven" holiday for supply chain operations affect the overall volume of cases has not yet returned to normal levels, the overall market continued to pressure prices downward. October 10, Shanghai Shipping Exchange, China export container freight index was 1058.76 points, down 2.7% over the previous period; Shanghai Containerized Freight Index was 911.03 points, down 2.6% over the previous period.

European routes, the euro zone economic conditions have not yet seen signs of reversal: September, retail purchasing managers' index (PMI) fell to 44.8, has been shrinking for three consecutive months, and since April 2013 the worst value. Based on the weak state of the euro zone, the International Monetary Fund (IMF) lowered its economic growth and the major core countries of the euro zone. Weak market demand, the Chinese domestic shippers due to time constraints delivery process, significantly reducing the week when the shipment volume, although some shipping companies were stopped in accordance with market practice classes, and classes such as capacity reduction measures, but the average ship space utilization is still down to around 70%. To try to fill the surplus space, shipping companies continue to cut tariffs, the market has dropped to $ 625 minimum tariffs / near TEU. October 10, Shanghai exported to Europe for Hong Kong market freight (shipping and shipping surcharge) is $ 738 / TEU, down 10.2% over the previous period, the largest decline for the week route. Mediterranean route, due to the major countries of Italy, Spain, economic indicators remain weak, the market downturn dragged down the volume of the recovery in consumer demand, the West routes average space utilization in the week fell to about 75%, by increasing the impact of competitive freight market continued to fall. October 10, Shanghai exported to the Mediterranean port of basic freight (shipping and shipping surcharge) is $ 1033 / TEU, down 8.2% over the previous period.

North American routes, according to the U.S. Labor Department report released October 7 show in August pending jobs in the United States rose to 4.84 million, for January 2001 to the highest. The United States unemployment rate index in September fell to 5.9 percent, the lowest level since July 2008. Improve the employment situation of help to stimulate consumption growth, thus boosting market demand for transport. Festival, although the United States and the West, the United States East Coast route due to holidays affect the overall volume decline, but with the help of shipping companies and cargo storage before the holiday after the holiday and other measures to merge the next flight, the ship only a slight decline in the average space utilization, America West route which is about 90%, the eastern United States is still maintained at more than 90%. Given the market is more stable, most shipping companies to stay on the sidelines this week, slight fluctuations in the market tariffs. October 10, China's exports to the United States and the West, the United States East Coast route freight index was 978.91 points to 1344.40 points, essentially flat with the previous period.

Australia-New Zealand route, the market has stabilized overall transport demand, while a number of shipping companies due to the holiday program execution suspended, causing significant market contraction capacity, supply and demand has eased, about average space utilization remained at around 85%. Because of the holiday market better than expected, some shipping companies choose to implement shipping in mid-voyage broad based program (GRI), but the specific gains, as the case may be, of each company. October 10, Shanghai exported to Australia and New Zealand markets basic port freight (shipping and shipping surcharge) is $ 672 / TEU, up 19.6 percent over the previous period.

Persian Gulf, the market demand for transport has not yet shown signs of improvement. But the one hand, after a month of continuous decline, the market rate has fallen to a low level, a limited decline in space; on the other hand, lack of market demand after the holiday shipping companies have been forced to postpone scheduled for mid-price plan, shipping companies willingness to cut prices insufficient, so the market is only slightly down tariffs. October 10, Shanghai outlet to the Persian Gulf basic port freight (shipping and shipping surcharge) is $ 536 / TEU, edged down 2.5% over the previous period.

Japan route, the volume continues to rise this week, Shanghai average space utilization climbed to nearly 85 percent, a slight increase freight market. October 10, China's exports to Japan route freight index was 699.00 points, up 3.3 percent over the previous period.