Shanghai has actively supported the orderly resumption of work and production since June 1st. As the two-month COVID lockdown eases, the manufacturing industry in this city is ready to get back up to speed.
Shanghai has actively supported the orderly resumption of work and production since June 1st. As the two-month COVID lockdown eases, the manufacturing industry in this city is ready to get back up to speed.
From January to April this year, the container volume of the port of Shanghai has recorded a 1.9% increase, to a total of 15.35 million TEUs, maintaining the first place in the world. By the end of May, the average daily container volume has gradually reached 120,000 TEUs.
According to the Ministry of Transport of China, the container throughput of the port of Shanghai hit 3.41 million TEUs in May, equivalent to 84% of the level last year. Since June 1st, the daily container throughput at the port of Shanghai has already reached 119,000 TEUs.
After the Dragon Boat Festival break, Shanghai port may usher in a shipment peak of one to two weeks, and the backlog of goods will be released to the market quickly.
The Shanghai Containerized Freight Index (SCFI) rose for three consecutive weeks. The Shanghai Shipping Exchange released the SCFI on May 13 and that was 4147.83 points, and 4162.69 points on May 20, 4175.35 points on May 27 and 4208.01 points on June 2. According to relevant sources in the freight forwarding industry, large international shipping companies are planning to raise freight rates sharply in mid-June, and the increase is still being carefully evaluated, starting at least 10%, and it is not excluded to raise prices in the form of surcharges first.
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