At present, the global ocean freight rate has plummeted. Ding Chun, a professor at the Institute of World Economics at the School of Economics of Fudan University, believes that the main reasons are: the high inflation rate in Europe and the United States, combined with geographic conflicts, energy crises and epidemics, which have caused the demand for shipping to shrink sharply.
With the continuous decline of the spot freight rate in the market, Yang Ming Shipping has publicly admitted that the shipping company is under pressure to “re-negotiate” the contract freight rate at the latest shareholder briefing recently, and said that it has received a request from the cargo owner to reduce the contract price.
For the global container shipping market, the third quarter is a traditional peak season. However, from July to September this year, the market failed to recover as scheduled, but continued to fall under pressure.
Chen Zhen, a researcher of Founder’s mid-term futures, believes that compared with the shipping price of tens of thousands of US dollars last year, the global container shipping market is still not optimistic in the fourth quarter.