Shanghai Shipping Exchange: The export container transportation market continues to improve, with freight rates rising on most routes

On May 24th, the Shanghai Shipping Exchange released the weekly report on China's export container transportation market, indicating that this week, the market continued to show a positive trend, with most long-distance shipping routes maintaining rising freight rates, driving the comprehensive index upward. According to the latest data released by the National Bureau of Statistics, the added value of industrial enterprises above designated size increased by 6.1% year-on-year in April, demonstrating that the Chinese economy has strong resilience and continues to maintain stable growth. On May 23rd, the Shanghai Shipping Exchange announced that the Shanghai Export Container Comprehensive Freight Rate Index was 1586.12 points, an increase of 7.2% compared to the previous period. The transportation demand on North American routes remains high, and the overall capacity has not fully recovered, leading to continued increases in market freight rates. On May 23rd, the market freight rates for exports from Shanghai to the basic ports on the U.S. West Coast and East Coast were $3,275/FEU and $4,284/FEU, respectively, representing increases of 6.0% and 5.3% compared to the previous period