Three consecutive increases in freight rates+severe cabin explosion!

Container freight rates have risen for three consecutive weeks, and the Shanghai Export Container Freight Index (SCFI) has returned to the 1000 point mark after 10 weeks, setting the largest weekly increase in two years. The container shipping market, which has been declining since last year, seems to have seen a significant "rebound" since March this year.


West American freight rates up 29.1% per week


According to the latest data released by the Shanghai Airlines Exchange on April 14th, the SCFI index continued to rise by 76.72 points last week to 1033.65 points, which is the highest level since mid January. The increase further expanded from 3.59% in the previous week to 8.02%. The Eastern and Western US routes continued to rebound significantly this week, but freight rates on the European route continued to decline.


North American routes:


·Freight rate of $1668/FEU, up 29.1%


·The freight rate is $2565/FEU, up 19.5%


South American route:


Freight rate of $2005/TEU, up 10.3%


Persian Gulf Route:


Freight rate of $1221/TEU, up 11.8%


European routes:


·European freight rate of $871/TEU, slightly down 0.7%


·Mediterranean route freight rate of $1618/TEU, slightly down 0.2%


Australia New Zealand route:


Freight rate of $255/TEU, down 4.5%



Severe cabin explosion in some parts of the Latin American and American Canadian lines


Market news shows that there have been some cabin explosions on the Latin American and American Canadian routes due to various reasons recently.


It is understood that the South American West Line and Mexico Line have experienced severe cabin explosions as a whole, and some shipping companies or containers have been damaged due to the explosion. It is recommended to book the cabin in advance; Although there is no South American West Explosion on the South American East Line, the loading rate is also good, and freight rates continue to rise.


In addition, the loading situation at various ports across the country on the US Canada Line is good, with some shipping companies on the US West Line experiencing tight or even explosive cabins until the end of April. Some shared cabins on the US East Line were also full by the end of April, and there were also issues such as a shortage of small containers.



According to the latest market news, some shipping companies may experience another surge on May 1st. In addition to the announcement on Herbert's official website earlier, the GRI will be increased for goods transported in 20 'and 40' dry containers, refrigerated containers, and special containers (including high containers) from East Asia to the United States and Canada, with increases of $800 and $1000 respectively. This GRI applies to all containers at Gate In Full starting from May 1, 2023. Other shipping companies also plan to increase their shipping costs by $600- $1200.