The trend of global sea freight in May is mainly affected by

The trend of global sea freight in May is mainly affected by the following factors:

 

Shipping companies a new round of freight adjustment: including MSC, Maersk, CMA, CoSCO, Hapelot, HMM and other shipping companies announced a new round of freight adjustment plan, which shows that the consolidation industry has the confidence to increase prices, do not want to accept the status quo of low freight.

 

Integrated Rate Surcharge (GRI) increases: If the major carriers succeed in implementing GRI increases in May, they are expected to increase rates by at least 30% on the US-West route and more than 23% on the US-East route.

 

FAK rate adjustments by shipping companies: MSC, Maersk, CMA CGM and Hapal-Lloyd have announced changes to FAK rates from the Far East to Northern Europe and the Mediterranean, which could herald a new round of strong support for freight rates.

 

Changes in China's Export container Freight Index: According to data from the Shanghai Shipping Exchange, the Composite Index of China's export container freight rose from 1,193.64 on April 26, 2024 to 1,237.84 on May 10, showing a 3.7 percent increase.

 

Geopolitical tensions, climate change, capacity supply and demand imbalances and other factors: these variables will jointly affect the trend of freight rates, both challenges and opportunities, will determine whether the market can adapt and adjust.

 

Changes in economic and consumption patterns: Due to long-term factors such as inflation, rising interest rates and a structural shift in consumption patterns from goods to services, container demand is expected to maintain low growth in 2023 and beyond.

 

Shippers' supply chain adjustments: Nearly half of global shippers say they will adjust their supply chains to make them more sustainable in 2024, which could have an impact on freight rates, according to the C.H. Robinson survey.

 

To sum up, the trend of sea freight in May shows signs of rising, mainly due to the freight adjustment plan of shipping companies and changes in market supply and demand relations. However, the specific increase and trend also need to consider geopolitics, economic environment, climate factors and other complex factors.