Except for the rise from the Far East to the West, all three major routes have fallen!

According to the latest data released by the Shanghai Airlines Exchange, the Shanghai Export Container Freight Index (SCFI) fell 17.22 points last week to 1013.78 points, marking a two week decline. The weekly decline has expanded from 1.2% in the previous week to 1.67%. Among the main long-distance routes, except for the Far East to the US West route, which continues to rise, the other three major routes have all declined.

Among them, the freight rate per FEU for the Far East to the Western United States increased by $3 to $2006, a weekly increase of 0.14%; The freight rate per FEU on the Far East to the US East Line decreased by $58 to $3052, a weekly decrease of 1.86%; The freight rate per TEU for the Far East to Europe line decreased by $50 to $802, a weekly decrease of 5.86%; The freight rate per TEU for the Far East to Mediterranean Line decreased by $45 to $1455, a decrease of 2.77%.

In 2021, there will be a significant increase in container shortage, explosion, and freight costs worldwide. On popular routes between China and the United States, container freight rates once climbed to $20000 per TEU, even comparable to the value of a single container.

In 2022, the skyrocketing freight rates gradually relaxed, and the US West freight rates dropped from around $13000 before the Spring Festival to $7000. The Shanghai export container freight index has also fallen from a high point, with a drop of over 17% this year. High inflation is the culprit! Inventory backlog further reduces US import demand

Recently, the sharp decline in import demand in the United States has caused a sensation in the industry. On the one hand, there is a large backlog of inventory, forcing major department stores in the United States to launch a "discount war" to stimulate purchasing power, but inventory levels of up to ten billion yuan still make merchants complain incessantly. On the other hand, the number of shipping containers in the United States has recently plummeted by more than 30%, reaching a new low in 18 months.