Non-stop! Freight rates fall endlessly! Individual line freight rate close to half cut! Freight forwarders are under great pressure, competition is fierce...

Affected by the global environment, such as pandemic, inflation, strikes and weak demand, market freight rates have been falling. Comprehensive current major shipping index shows that the freight rate index continues to decline, the freight rate of the main airlines has been falling continuously, and the freight rate of individual airlines has been nearly halved.

Maintenance network has sorted out the market situation of some routes in Europe, America, Southeast Asia and so on in recent weeks for your reference, as shown in the following diagram:

Last year saw the biggest boom in the history of container shipping, with freight rates soaring and shipping companies cashing in. This year's export freight and compared with the year, that is a big difference, this year from the year down to the middle, whether Southeast Asia, the Middle East, Europe, America, the world's Sea Freight prices are falling fast.
Among them, Southeast Asia as an example, the recent Southeast Asia route freight rates fell not only close to half, to Southeast Asia's part of the port freight from about $300 rose to a high 2000-3000 and now running about 300 fell down.
The possible reasons for the slump in Southeast Asian sea freight are the decline in consumer purchasing power caused by inflation, the serious shortage of freight demand, the excess of shipping space on Thailand-to-Vietnam routes, and the continuous decline in freight rates. The more bad the market, the more serious the volume, the market appears to grab goods, the situation of price competition.
Freight forwarders said that affected by various factors such as the epidemic, freight forwarders have seen their costs rise and their business volumes shrink. Some small and medium-sized foreign trade companies are also struggling. Due to reduced orders, material shortage, rising costs and other factors such as delivery delays, they stop import and export business, or even close directly, resulting in fewer graduates and more competition in the freight forwarding market....
Source:https://www.sofreight.com/