CHINA-Australia spot rates have fallen back again this week, according to the latest Shanghai Containerised Freight Index, despite forthcoming Golden Week voyage blankings.
Levels look to have peaked at Week 36 when they reach USD 2,650/FEU Shanghai-Sydney, before sliding slightly to USD 2,626/FEU in Week 37. Quotes for Week 38, according to the SCFI, average US2,518/FEU.
As has recently been the case it is difficult to tell whether carriers are intentionally pulling capacity to prop rates up or simply battle to keep on schedule, with bad weather and port congestion affecting ports in China, Australia and New Zealand.
Golden Week holidays in early October in China always prompt a number of blankings but current conditions have muddied the situation. Several services are currently impacted by vessel bunching and there is an almost constant flow of port omission and rotation change notices being issued.
Contrarily there are also extra-loaders on the run, with the ANL-operated 1,809 TEU Green Wave and 1,740 TEU Hansa Homburg currently re-positioning in from China to join the carrier’s TranzTas service, while TS Lines is following the recent 1,909 TEU TS Xiamen with the 1,808 TEU TS Osaka and the 2,954 TEU TS Chennai.
DCN has recorded only a few of rate advisories in the past fortnight.
Backtracking to last Monday (15 September) COSCO Shipping Lines implemented rate restorations in both the southbound North & East Asia and South East Asia trades, of USD 300/TEU, 600/FEU.
On 1 October ANL will be implementing a rate restoration program at USD 300/TEU dry/reefer & USD 600/FEU dry/reefer for all shipments from South East Asia, Indian Sub-Continent & Middle East to Australia. This increase will apply on top of current Spot/FAK rates subject to all applicable surcharges valid on time of shipment.
On the same day the CMA CGM Group NZ will implement a Cancellation, Rollover or Reduction Fee of NZD 150 per unit for export bookings with scrap metal commodities effective. This will apply for export bookings of all equipment types from New Zealand with scrap metal commodity that is cancelled, rollover or reduced at the shipper’s request within 5 days to vessel ETD at required port of load.
On 8 October NPDL will be implementing a GRI for dry and reefer cargo to the Cook Islands, covering Rarotonga and Aitutaki. The carriers says its cost have increased significantly to move cargo on this service.