Unexpected warehouse shortage, sky-high freight, congestion and delay
Shipping was cold in the first half of the year, but in the second half of the year directly entered a hot period. Shipping companies launched first-class services, China-Europe freight trains, one-day freight rates, and money can’t get the cabinets... all came together at the end of the year.
In August, the U.S. line resumed from June to point G, and continued to liquidate its warehouses, setting off a trip to the entire route, and the market began to lack containers. In October, the shortage of cabinets broke out, and the main terminals in Europe and the United States continued to be congested. Starting from the European line, the whole line started a wave of price increases.
Since November, the price of the U.S. line has risen about four times compared with the beginning of the year, and the European line even broke the historical high price of more than 10,000 US dollars per 40-foot high cabinet. According to data from the official website of the Shanghai Shipping Exchange, since late May, the China Export Container Freight Index (CCFI) has been rising all the way, and it has soared by nearly 70% in more than half a year.
So far, the Ministry of Communications of China has interviewed the shipping company by name, the US Federal Maritime Commission has launched an investigation into the skyrocketing freight rates and cabin rentals, and freight forwarders and industry associations have voiced complaints... What's more, DSV Panalpina bypassed the shipping company. , Leased three ships and a batch of containers to open a direct route from Shanghai to Denmark in response to the "hot" market.
Container shipping companies and container leasing companies said that it is difficult to predict the market outlook. Although the strong demand for containers is expected to continue into the first quarter of next year, after the middle of next year, there is still greater uncertainty in the market supply and demand trends. If European and American countries are still under lockdown or vaccine research and development and promotion fall short of expectations, and the macro economy falls into a sustained recession, the good growth momentum of the container shipping industry may not be able to maintain.