Freight rates on US routes have fallen after three consecutive weeks of sharp increases.
The Shanghai Export Containerized Freight Index (SCFI) released by the Shanghai Shipping Exchange shows that on June 13, the market freight rates (sea freight and sea freight surcharges) from Shanghai Port to the West and East US base ports were US$4,120/FEU and US$6,745/FEU, respectively, down 26.5% and 2.8% from a week ago.
However, the European routes showed a different picture. At present, the NCFI European route saw a 16.4% increase in freight rates last week due to tight capacity.
The situation between Israel and Iran is one of the factors for the increase in European freight rates. However, its impact has not yet spread to the Middle East routes, and it is expected to gradually change from this week. At the same time, Iran is seriously considering whether to close the Strait of Hormuz, which is an important channel for the transportation of Gulf oil. As tensions in the Middle East change, commercial shipping in the region faces new threats, and concerns about the blockade of the Strait of Hormuz have intensified.
