China Market Ocean Freight Updates, March 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
The demand for transportation has recovered steadily, and the supply-demand relationship has remained balanced. This week, the market freight rate for exports from China to the basic ports in South America was unchanged from the previous period.
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.
| Yantian - Guayaquil | From $1700 | Check rates |
| Shekou - Santos | From $2252 | Check rates |
| Shanghai - Callao | From $1400 | Check rates |
| Shanghai - Buenos Aires | From $1952 | Check rates |
| Qingdao - Manzanillo | From $1500 | Check rates |
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.
| Shanghai - Laem Chabang | From $285 | Check rates |
| Shanghai - Busan | From $1 | Check rates |
| Ningbo - Hai Phong | From $175 | Check rates |
| Ningbo - Jakarta | From $225 | Check rates |
| Shekou - Kobe | From $85 | Check rates |
China to the Middle East
The recovery of transportation demand has been satisfactory, and the fundamental supply-demand relationship remains solid. As a result, spot market booking prices have continued to rise. The international freight rate for exports from China to the basic ports in the Persian Gulf increased by 0.8% compared to the previous period.
SHANGHAI to DAMMAM
The following are examples of the most cost-effective rates for the transportation of 20-foot FCL containers from China to the Middle East.
| Shanghai - Abu Dhabi | From $1375 | Check rates |
| Shanghai - Dammam | From $1450 | Check rates |
| Dalian - Jebel Ali | From $1790 | Check rates |
| Ningbo - Abu Dhabi | From $1425 | Check rates |
| Shekou - Jebel Ali | From $1325 | Check rates |
China to North America
According to the data released by the US Department of Commerce, the initial value of durable goods orders in the United States fell by 6.1% in January compared with the previous month, significantly lower than market expectations and marking the largest decline since April 2020. Recently, multiple economic indicators in the United States have seen significant declines, indicating that the prospects for economic growth in the United States are not optimistic, which will drag down the demand for transportation on the North American route.
This week, the cargo volume is still recovering, and market freight rates continue to show adjustment trends. The market freight rates for exports from China to western USA ports and eastern USA ports were respectively down 9.1% and 6.2% from the previous period.
The following are examples of the most cost-effective rates for the transportation of 20-foot FCL containers from China to North America.
| Shanghai - Seattle (Wa) | From $3620 | Check rates |
| Qingdao - Edmonton | From $3653 | Check rates |
| Shanghai - New York | From $4006 | Check rates |
| Shanghai - Vancouver | From $3173 | Check rates |
China to Europe
According to the data released by the European Commission, the economic sentiment index of the eurozone fell to 95.4 in February, lower than the previous level and market expectations. Among them, the confidence index of both the industry and service industry has shown a decline, indicating that the economic growth prospects of Europe are relatively weak.
In addition, the tense situation in the Red Sea region will continue to pose a challenge to the transport market of the Asia-Europe route. This week, the recovery of transport demand is slow, the supply and demand fundamentals remain weak, and market freight rates continue to fall. The freight rate for exports from China to the Europe base ports decreased by 9.23%, while that from China to MED base ports decreased by 5.0% 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.
| Shanghai - Hamburg | From $1710 | Check rates |
| Shanghai - Lisboa | From $2155 | Check rates |
| Shanghai - Rotterdam | From $1524 | Check rates |
| Shanghai - Fos Sur Mer | From $2558 | Check rates |
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.
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YQN Operation Team
info@yqn.com
