The freight rate rose a lot of resistance

In recent days, due to political factors, the reduction of ships in the Middle East caused the tightness of space on this route and the upward adjustment of freight rates. In addition, the freight rates of the Australia route were greatly increased, and the direct freight rate was about USD1100/TEU. However, the freight forwarding companies stated that the freight rate increase was lack of support and therefore difficult to last.

As the pace of the winter approaches, in early November, the prices of the major routes market became even lighter. The export volume of goods from all routes decreased, and the freight rates continued to fall.

The Asia/Europe route westbound freight rates fell to around USD1300/TEU. The Asian/US route eastbound freight rate fell below the USD3000/TEU mark and fell to around USD2600/TEU.

According to industry analysts, the imbalance in supply and demand of capacity is the main reason for the decline in freight rates. With the slowdown of supply in Europe and the United States in the consumer market, the volume of goods exports declined. Under the international exchange rate war, both importers and exporters reduced their production, which also became a drag factor in the rise of freight rates.