Shipping Price Trends
Shippings
Price movements
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E Coast US to N Europe | 40ft Container
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N Europe to E Coast US | 40ft Container
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China to Europe | CCFI Index
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China to E Coast US | CCFI Index
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C China (Shanghai) to Italy (Genoa) | 40ft Container
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C China (Shanghai) to N Europe (Rotterdam) | 40ft..
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Impact of Middle East conflict:
- Major carriers CMA CGM, OOCL, COSCO, and Maersk have all implemented temporary Emergency Bunker Surcharges (EBS), with CMA CGM stating that the significant upward pressure on fuel costs is impacting “not only sea transportation but also inland operations across all modes, affecting the overall cost of moving containers throughout the supply chain.”
- Maersk has also announced an emergency rate for cargo already in transit and destined for several Middle East ports, stating, “We are implementing this Emergency Freight rate to arrange alternative routing to final destination, including finding potential storage solutions, additional charters, and so forth.”
- Although shipping disruption generally remains restricted to the Middle East region, market participants expect an increase in global freight rates on the back of the increase in fuel costs and surcharges.
- On March 19, the Global Shipping 40-foot Container Composite Index increased by 2% week over week (W-o-W) to $2,172/unit, although, with most surcharges yet to come into effect, sources suggest that this was mainly due to carriers' efforts to increase pricing following the Chinese Lunar New Year, and an anticipated uptick in demand.
- Amid heightened uncertainty and with most surcharges set to take effect by the end of March, sources anticipate further upward movement and elevated price levels at least in the short term.
Shipping
Price forecast
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