Container shipping freight rates hit another record high

Container ship chartering prices have reached new highs. Under the current "sky high" freight rates, even a small ship may earn millions of dollars in one voyage.
 
According to the data released by Harper Petersons, a 2741 TEU container ship was chartered at a daily rent of US $120000 in early July. The rent increased 11 times compared with US $10600 in January last year, a record high.
 
At present, the actual freight rate per FEU on the Western US Route has exceeded 9,000 U.S. dollars. The freight rate for long-term customers plus peak season surcharges is estimated to be about 5,000 U.S. dollars. Based on the average freight rate of 7,000 U.S. dollars, one voyage can earn 9.59 million U.S. dollars. The profit is about US$3.05 million after deducting costs. If you also help customers arrange inland transshipment, the profit can be further increased.
 
In the first quarter of this year, daily container ship chartering prices rose from $10,000 at the beginning of last year to $40,000. In the second quarter, container ship chartering prices increased from $70,000 to $80,000, and the chartering term increased from one year to three years.
 
The ship broker pointed out that at the beginning of last year, the daily chartering price of 4250TEU ship was only $8000 ~ 9000, which rose to $16000 in October last year. The latest transaction record is about $39000 per day for five years, while the transaction record of 2800TEU ship's one-year chartering is as high as $75000.
 
As the container transportation market enters the traditional peak season, the rise of container transportation freight rate is amazing. The latest issue of SCFI was 4100 points, reaching a new high. Among them, the weekly freight rate per FEU on the US east line increased by 2.02% to US $9850. The freight rate per FEU on the US west line increased by 1.01% to US $5388, and the freight rate per TEU on the European line increased by 1.48% to US $7127.
 
According to WCI released by Drewry, the freight rate continued to be high-grade. As of July 22, the latest freight rate was US $8985.53/FEU, up 1% and US $103.
 
In the case of soaring freight rates and extreme shortage of transport capacity, large freight forwarding logistics enterprises such as DHL, DSV Panalpina, Geodis and Seko logistics have chartered ships and opened routes one after another, and retailers such as Home Depot and Amazon have also chartered ships and carried cargoes, forming a new trend of self-help and self rescue.
 
International large freight forwarding companies pointed out that the chartering operation is mainly to ensure that the company's customers can smoothly import their cargoes and avoid backlogs. However, this is only a measure of equity in an emergency period and there is no long-term plan for their own charter operation.

Source: Sarah Yu, XINDE MARINE NEWS

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