Shipping Firms: Three Factors Supporting Ocean Freight Rates — June 15 Hike Largely Set

(Central News Agency reporter Jiang Ming-yan, Taipei, 12th) Ocean freight rates have been rising steadily. Shipping industry sources say that rising oil prices, port congestion and demand for inventory buildup ahead of the peak season continue to support the market, keeping freight rates firm. Capacity on U.S. West and East Coast routes remains relatively tight, carriers' intentions to raise rates are clear, and the June 15 rate increase has largely been settled.

The Shanghai Shipping Exchange's export container freight index (SCFI) has climbed for seven consecutive weeks, and the four major Europe-America routes all saw weekly increases exceeding 10%.

Shipping sources noted that the three factors — rising oil prices, port congestion and peak-season stocking demand — continue to underpin the market, maintaining overall strong freight rates. The Middle East situation and risks in the Red Sea have not been fully resolved, and the market generally expects rates to remain elevated in the short term.

According to industry participants, space on the U.S. West and East Coast routes remains relatively tight, with limited supply. Carriers' price-increase stance is clear, and the June 15 increase is largely settled; subsequent developments will depend on space supply conditions.

Overall, industry participants believe the market will remain strong through the end of June, and there are no obvious signs of easing in freight rates or space tightness in the short term. (Editor: Zhang Liangzhi) 1150612

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