Benefiting from the increase in demand in 2017, spot freight rates for container ships on the Asia-United States east coast have picked up in the past few weeks, but the freight rates of the routes are still lower than the same period of last year.
Drewry, the shipping consultancy, said that container traffic on Asia-US east coasts and the Gulf Coast increased by 7.9% in 2017, well above the 1.3% increase in container imports on the West Coast. The container shipping market in the US East Coast / Gulf Coast increased from 33% in 2016 to 34.4% in 2017 due to the substantial increase in container imports. Over the past five years, the balance of ASR routes has continued to be offset from the east coast, but this trend has slowed in 2016 due to the reopening of the Panama Canal after its mid-2016 expansion.Glenflange
In 2017, the combined shipping capacity of Asia-US East Coast and Asia-US West Coast exceeded 15 million TEU, up 3.5% over 2016. Durham expects a projected 6% annual increase in trans-Pacific container shipping volume due to the rapid growth in demand for container shipping in the Canadian and Mexican markets.
In addition, the container traffic volume of the trans-Pacific one-liner service in 2018 is expected to increase again and is expected to be slightly below 4.5%. Among them, the container shipping volume on the east coast of the United States and the Gulf Coast will further erode the dominance of the container shipping volume on the west coast of the United States.
However, in spite of the main support conditions appearing on the market, the trading price of the consolidators on the spot market has been declining for the past year due to the reduction of the freight rates due to the fierce competition between the shipping companies. Durriad said that if the Morro vessel completes its USEC route deployment plan by May 2018, there is likely to be further conflict in the FCL price in the spot market.glenflange
The company said the route tariff has now increased by about $ 1,000 / FEU since early January 2018. At the same time, the surge in demand ahead of the Chinese New Year will bring more freight rate growth to the container shipping market.