China Market Ocean Freight Updates, April 2024

Creator: YQN Logistics

As a global digital logistics expert, YQN Logistics offers online consultative international logistics services covering ocean freight, air freight, rail freight, multimodal transportation, trucking, customs clearance, insurance, overseas warehousing, and destination services.

Shipping from China to most regions is now characterized by stable demand and no supply chain problems. The statistical data illustrates the growth of ocean freight rates in most cases. Check out the insights below for detailed information by region:

China to South America

Transport demand has grown slightly, and the balance between supply and demand has continued to improve, leading to a further increase in market freight rates this week.  The market freight rate for exports from China to the basic ports in South America have raised by 9.3% compared to last week.

SHANGHAI to MANZANILLO

We would like to inform you that we expect freight rates to increase on the China-South America trade route soon. We recommend our customers plan their shipments accordingly and consider booking in advance to guarantee sufficient space and avoid possible delays.

The following are examples of the most cost-effective rates for the transportation of 20-foot FCL containers from China to South America.

China to Asia

The shipping demand for Asia market remains stable and the international ocean freight rate from China to the basic ports in other Asian countries was unchanged from the previous week.

The following are examples of the most cost-effective rates for the transportation of 20-foot FCL containers from China to the Asia.

China to the Middle East

Most middle east countries are in the period of Ramadan, and this year the local transportation demand is better than that of previous years in Ramadan. With a solid fundamental of supply and demand, market freight rates continue to rise.  The market freight rate for exports from China to the basic ports in the Persian Gulf increased by 12.9% compared to the previous period.

SHANGHAI to JEBEL ALI

The following are examples of the most cost-effective rates for the transportation of 20-foot FCL containers from China to the Middle East.

China to North America

According to the S&P Global, the initial value of the Markit Services PMI in the United States in March was 51.7, which has been sliding for the second consecutive month and hit a new low in three months. This indicates that the US economy is showing signs of slowdown.

This week, the market volume still showed a weak growth trend. The ocean freight rates from China to western USA ports and eastern USA ports were respectively down 5.9% and 8.2% from the previous period.

SHANGHAI to VANCOUVER

The following are examples of the most cost-effective rates for the transportation of 20-foot FCL containers from China to North America.

China to Europe

According to the European Commission, the economic sentiment index in the eurozone in March was 96.3, better than the previous value and market expectations, indicating that the European economy continues to maintain a recovery trend.

The freight rate for exports from China to the Europe base ports increased by 2.6%, while that from China to MED base ports raised by 4.2% compared with the previous week.

SHANGHAI to HAMBURG

The following are examples of the most cost-effective rates for the transportation of 20-foot FCL containers from China to Europe.

Cargo transportation from China remains positive, with sufficient equipment and space to meet growing demand.

On the YQN platform, customers can easily compare rates, make bookings, and fulfill order online, addressing common industry challenges. If you want to receive a personalized offer, send a request and our manager will contact you and provide an individual offer depending on your requirements.

---

YQN Operation Team

info@yqn.com