Shanghai Container Freight Rates Decline, Shipping Stocks Under Pressure
As container freight rates departing from Shanghai continue to fall, shipping sector stocks came under downward pressure on Friday.
According to data from the Shanghai Shipping Exchange, the Shanghai Containerized Freight Index dropped by more than 14% last week. Following this development, shares of major shipping companies declined. Maersk fell by 5%, while Hapag-Lloyd traded 2.6% lower.
Maritime research firm Drewry reported that the World Container Index—which tracks freight rates for 40-foot containers across eight major shipping routes—now shows a downward trend, particularly on the Transpacific and Asia-Europe lanes.
The broader freight market is experiencing significant year-on-year declines. In September, ocean freight rates fell by 37%, while air freight rates dropped by 15%.
Global shipping volumes present a mixed picture. U.S. imports decreased by 3%, while exports rose by 1%. In contrast, European markets showed the opposite trend: imports increased by 2%, while exports declined by 7%.
Air cargo volumes varied by region. The Asia-Pacific region recorded the strongest growth at 7%, followed by Europe at 4%. North America saw a slight decline of 1%. Load factors remained stable in Europe and North America, while Asia-Pacific saw a 2% increase.
Meanwhile, fuel costs are on the rise. In August, jet fuel prices increased by 5%, and marine gas oil rose by 2%.
