Recently, the Shanghai Container Export Freight Index (SCFI) has risen for the second consecutive week, reaching 1032.21 points, an increase of 2.12%. Among them, the freight rates for European and Mediterranean routes have continued to rise, with increases of 8.7% and 10.07% respectively.According to reports, several shipping companies, including Maersk, DaFei, and Herbert, have issued notices stating that they will significantly increase the FAK rates for Asia to Nordic and Mediterranean routes starting from January 1, 2024. Industry insiders point out that there is currently not much cargo volume on the market, and it is entirely up to shipping companies to reduce schedules and reduce cabins to stabilize freight rates.According to overseas industry media reports, other shipping companies will follow suit and increase FAK rates by a similar amount in the coming days, in order to establish a solid financial foundation starting from 2024. During this period, an increasing number of shippers have reported that they are no longer able to book seats for December on shipping companies’ online booking platforms, mainly due to shipping companies attempting to squeeze the market by canceling approximately 40% of flights from China.
