SPOT rates on the main Australian trade lane by volume have slid further over the past fortnight, although nowhere nearly as precipitously as on major east-west routes.
Analysts at Linerlytica say the Shanghai Containerised Freight Index (spot rates) and China Containerised Freight Index (average of spot and contract rates) have fallen by 70% and 50% respectively since their 2024 peaks. The consultancy believes many Asia-Europe containers, for example, are being shipped at below carriers’ break-even levels.
Drewry’s World Container Index fell back another 8% last week, marking the 15th consecutive week of slippage Asia-Europe and Trans-Pacific.
The SCFI for Shanghai-Sydney for Week 40 stands at USD 2,186/FEU, down 6% on Week 39, and continuing a slow decline after Week 36 when, what now appears to have been the peak-season peak, reached USD 2,660/FEU. A reminder: in January this year the SCFI was USD 4,924/FEU.
Sources say carriers are now struggling to get USD 1,000/TEU China/North Asia-Australia, with smaller players coming in at 900/TEU or less.
Nevertheless, TS Lines has scheduled another two extra-loaders for November, the 1,818 TEU TS Bangkok and the 1,756 TEU TS Kwangyang, and ANL has programmed the dummy-name ANL Townsville, also for November.
Amongst recent notifications, ANL has postponed implementation of a cancellation fee for scrap metal exports from NZ, from 1 October to 1 November. However, the previously-announced Commodity Misdeclaration Fee of USD 250 per bill of lading in NZ is enforced from today.
From 19 October ANL will increase import and export port dues for NZ’s Port Nelson, which will become NZD 58/TEU dry & reefer, and 116/FEU dry & reefer. These dues also apply to cargo handled by CMA CGM and Sofrana.
On 15 October ANL will be implementing a rate restoration program at USD 300TEU dry/reefer & USD 600/FEU dry/reefer for all shipments from North East Asia, South East Asia, Indian Sub-Continent & Middle East to Australia and New Zealand.
MSC is also trying for a 15 October rate restoration, effective for all cargo from China, Hong Kong, Taiwan, Japan, Korea, Cambodia, Thailand, Vietnam, Malaysia, Myanmar, Singapore, Philippines and Indonesia to Australia and New Zealand, of USD 300/TEU.
Lines are also announcing their bunker- and currency-adjustment factor surcharges applicable from 1 November; customers should check with their carriers.