Shifl

Decline in spot freight rates accelerates, reports Shifl

SHIFEX, a container spot freight rate index, shows that freight rates for 40’ containers moving from China to the port of Los Angeles fell to US$1,825 in October, which was equivalent to the peak season rates pre-pandemic.

Even as vessels continue to queue outside East Coast ports, freight rates between China-US East Coast are declining, with freight rates for 40’ containers on the China-New York trade corridor dropping to a rate of US$5,550, which is still higher than the peak season rate...

https://container-news.com/decline-in-spot-freight-rates-accelerates-reports-shifl/

Shifl CEO sees GRI practices holding back global shipping from proactive future

In 2021, the three ocean shipping alliances, made up of the top nine largest ocean carriers, earned over $150 billion in profits. 

Fast forward a year, and the landscape has become much more competitive with carriers that find themselves too heavy in a spot market concerned with falling spot rates. Even those protected lightly by higher contract rates still expect a lower demand for their contracted services in 2023.

Related: Cruel summer for container, dry bulk stocks as sun shines on tankers

Alth...

https://www.freightwaves.com/news/shifl-ceo-sees-gri-practices-holding-back-global-shipping-from-proactive-future

Transit times from China to US are improving slowly

Container lines servicing the US trades have been able to improve transit times in the last three months with notable improvements in particular on the route between China and the US West Coast, according to a latest report from the digital digital freight forwarding platform Shifl.

Transit times on the Trans-Pacific trade, especially the US East Coast, have been impacted since the start of the year due to the decision by shippers to reroute shipments to the East Coast to avoid long delays on...

https://container-news.com/transit-times-from-china-to-us-are-improving-slowly/

New low in US container freight rates set to ease inflation, reports Shifl

SHIFEX, the spot container rate index by the digital freight forwarding platform Shifl, has positive news for US consumers as it shows a continued decline in spot rates that is set to marginally shift power away from carriers.

More specifically, according to Shifl’s data, the shipping price for an FEU from China to the US West Coast is set to drop below US$5,000 for the first time since the spike caused by the Covid-19 pandemic.

Shipping a 40′ foot container from China to Los Angeles and Long...

https://container-news.com/new-low-in-us-container-freight-rates-set-to-ease-inflation-reports-shifl/

Shifl’s predictions show dramatic retreat in spot rates

According to early indications from SHIFEX, the freight rate index by the digital freight forwarding platform Shifl, box prices on the main Trans-Pacific trade lanes declined, during the third quarter of the year, more than 50% from the September 2021 peak, falling at levels not seen since the beginning of last year.

The reasons for the sharp reversal in rates in the first half of the year are the sharp decline in demand associated with the tightening of monetary policy around the world, the...

https://container-news.com/shifls-predictions-show-dramatic-retreat-in-spot-rates/

“Continued spot rates decrease seen as positive measure to curb inflation,” reports Shifl

The consumer demand for retail has been steadily declining in recent months due to rising prices despite the increase in commodity prices, according to the digital freight forwarding platform Shifl.

Major retailers have indicated an excessive number of stocks, which is likely to lead them to reduce their imports to improve inventory turnaround times.

As demand from both consumers and retailers declines, it comes as no surprise that ocean freight spot rates between China and North America see new...

https://container-news.com/continued-spot-rates-decrease-seen-as-positive-measure-to-curb-inflation-reports-shifl/

Digital freight forwarder Shifl builds index of ocean shipping rates

Digital freight forwarding platform Shifl announced Monday it is launching its own rate index to bring better visibility to its customers that have been experiencing a volatile market, with rates that were close to $20,000 for a full 40-foot high cube this time last year dropping to below $10,000.

The new ocean spot rate index, Shifex, is based on actual freight quotes and shipments handled by Shifl with its carrier network moving cargo from China to New Jersey/New York or Los Angeles.

Related: ‘A...

https://www.freightwaves.com/news/digital-freight-forwarder-shifl-builds-index-of-ocean-shipping-rates

Shifl sees possible further reduction in freight rates

Freight rates, and especially the spot market ones, have fallen sharply since the beginning of the year, driven by declining consumer demand in the US market, according to the digital freight forwarding platform Shifl.

Reaching highs in January 2022, at approximately US$17,000-18,000 / 40′ from China to the US West Coast, container shipping rates have risen to around US$7,000-8,000 / 40′ from April 2022 and, according to indications, will maintain these levels, at least until July 2022.

China’s...

https://container-news.com/shifl-sees-possible-further-reduction-in-freight-rates/

Sharp drop in transit times and US spot rates, reports Shifl

The US GDP fell by 1.4% in the first quarter of 2022, which does not leave unconcerned the economists and the analysts.

Vibrations were making their way across the Trans-Pacific corridor as talk of a freight recession and a cooling ocean freight spot rates came to the fore.

The US recorded extremely high import volumes in the first quarter of 2022, up 4.77% from the already high-record fourth quarter of 2021 due to previous orders and consumer demand.

At the same time, the situation with the...

https://container-news.com/sharp-drop-in-transit-times-and-us-spot-rates-reports-shifl/

Decline in China/US spot freight rates continues

Transpacific container spot rates between China and the US West Coast and US East Coast have been on a steady decline since peaking in early January, says a report by the digital freight forwarding platform Shifl.

Particularly, West Coast rates dropped by 52% and East Coast rates by 50% in March 2022 compared to January 2022, as inbound volumes continue to fall.

“As we predicted, we have seen a sharp decline in freight rates in the last three months due to a decrease in sales and full inventories...

https://container-news.com/decline-in-china-us-spot-freight-rates-continues/

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