Shanghai Shipping Exchange: Geopolitical tensions remain tense, and most freight rates continue to rise

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Shanghai Shipping Exchange has released its weekly report on China’s export container transportation market. This week, the China export container transportation market continues to face tight geopolitical conditions. Freight rates on most deep-sea routes remain on an upward trend, driving the composite index higher. On April 3, the Shanghai Export Containerized Freight Index was 1854.96 points, up 1.5% from the previous period. Among them, on the Persian Gulf route, the military conflict in the Middle East continues to severely affect the regional container consolidation market. At present, this route remains at a standstill, and the overall transportation market is characterized by “prices without buyers.” Freight rates in the market continued to rise this week. On April 3, the freight rate for shipments from Shanghai Port’s exports to Persian Gulf main ports (ocean freight and ocean freight surcharges) was $3977 per TEU, up 6.7% from the previous period.

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