Has international shipping started a price war in the off-season to grab goods?

The off-season rush for goods and the start of a freight war have dragged the Shanghai Export Container Freight Index (SCFI) to fall below 1000 points again. On the 17th, the latest quotation continued to decline by 2.94% to 999.92 points. The freight rates of major routes in Europe and America have all declined, with the deepest drop being 7.98% per 40 foot container in the US West, 3.13% per 20 foot container in the Mediterranean, 2.08% in the European, and 0.13% in the US East.

Previously, shipping giant CMA CGM and others publicly called for a price war between the shipping industry in a sluggish economy and imbalanced supply and demand, in order to avoid falling into a long-term recession. Fighting a price war will harm everyone.

It is worth noting that industry insiders in the freight forwarding industry have estimated that the freight rates on the US West route have plummeted, rising by around $400 on November 1st, and almost all of the gains in this period have been recouped. They have also reduced the previous savings to only about $100; In addition, shipping companies have begun to increase their efforts to control cabins on the US East route. In November, they called for an increase of $300-400, and in the past two weeks, they have refunded $200-300, resulting in a real increase of $100.

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