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The Red Sea bursts. Cargo index isskyrocketing across the board! Three factorsare driving this!

Views: 0     Author: Miette     Publish Time: 2024-05-14      Origin: Site

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The Red Sea bursts. Cargo index is skyrocketing across the board! Three factors are driving this!


In May, the main contract of the container index (European line) soared sharply, refreshing the record high. The sharp rally began on March 15 this year and has risen as much as 206%.


 This surge is mainly driven by three factors, among which the rising geopolitical situation is the main reason; Secondly, the spot price has gone up all the way, and the major liner companies are successively raising the second round of freight rates in May; Third, the demand side also continues to pick up, and the demand for international trade is improving.Both the retail sales growth rate in the United States and the manufacturing PMI trend in major emerging countries are in an upward stage, supporting the main contract of the European line futures of the consolidation index to rise.


Due to the situation in the Middle East and port congestion caused by rerouted routes, the expectation of higher freight rates is still strong. The next round of increases will begin in mid-May. At present, major liner companies are carrying out the second round of freight rate increases in May. At the same time, the demand side of the European line is stable. On the supply side, shipping supplies are tightening due to the Red Sea circumnavigation, which prevents ships from returning on time. Prices will continue to rise in May.


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