I. Tianjin Shipping Index (TSI)
In Week 20, 2025 (May 12 to May 16), Tianjin Container Freight Index (TCI) continued to rise, Tianjin Bulk Freight Index (TBI) fluctuated and declined, and Tianjin Domestic Container Freight Index (TDI) maintained an upward trend. The The Tianjin Shipping Index (TSI) fluctuated upward and finally closed at 1,018.06 points, with a cumulative increase of 8.04 points (0.80%) compared to May 9(the last release day of Week 19). The trend of TSI is as follows:
The value and trend of TSI is as follows：
II. Tianjin Container Freight Index (TCI)
In Week 20, 2025 (May 12 to May 16), the trend of Tianjin Container Freight Index (TCI) is as follows:
In Week 20, the TCI continued to recover and then stabilized.
From May 12 to May 14 (Mon. to Wed.), the freight rates in European route and Persian Gulf route declined slightly, the rates in Mediterranean route increased steadily, while the freight rates in American route and South American route performed strongly. The TCI rise continuously, with a cumulative increase of 1.69%. Subsequently, the freight rates in European route and East Mediterranean route weakened overall, while those in the West Mediterranean, South America East, and Central and South America routes continued to rise. The rates in the American, South America West, and Persian Gulf routes stabilized. The TCI slightly decreased from May 15 to 16 (Thu. to Fri.), with a cumulative decline of 0.03%.
Finally, the TCI closed at 1182.33 points, with a cumulative increase of 19.30 points (1.66%) from May 9 (the last release day of Week 19).
The TCI index value and several ups and downs on a day-on-day basis are as follows:
The TCI includes 19 sample routes. The main route analysis of this week is as follows:
European/Mediterranean route Freight rates showed mixed trends. For the European route, some shipping companies slightly lowered rates slightly to attract cargo, with the index closing at 590.77 points, with a week-on-week decrease of 1.43%. For the Mediterranean route, tight heavy container (HQ) space drove up market freight rates at the beginning of the week.The freight rate in West Mediterranean route rose steadily throughout the week, with the freight index closing at 1,230.63 points, with a week-on-week increase of 3.04%. However, in the East Mediterranean route, shipping companies released special-priced cabins in the later part of the week, causing freight rates to decline. The index closed at 934.61 points, up 0.23% week-on-week.
American route The significant trade tariff agreement accelerated shipments of backlogged orders, leading to a tight supply of cabins and a rapid increase in freight rates. The freight indices of the Tianjin to American West Coast and Tianjin to American East Coast routes closed at 1023.14 points and 959.58 points, respectively, with week-on-week increases of 10.46% and 4.07%.
South American route Tight shipping capacity led to a shift of South American-bound vessels to the American routes, which in turn drove up freight rates on the South American routes. The freight indices for Tianjin to West South America, East South America, and Central South America routes closed at 733 points, 873.25 points, and 878.72 points, respectively, with weekly increases of 17.07%, 21.55%, and 12.07%.
Persian Gulf route Lightweight cargo shortages prompted carriers to cut rates for large containers. The freight index closed at 1,436.94 points, with a week-on-week decrease of 0.74%.
III. Tianjin Bulk Freight Index (TBI)
In Week 20, 2025 (May 12 to May 16), the trend of Tianjin Bulk Freight Index (TBI) was released as shown as follows:
In Week 20, the TBI fluctuated and decreased.
From May 12 to 15 (Mon. to Thur.), the grain market freight rates continued to decline, while the coal and metal ore market freight rates fluctuated and fell. The TBI continued to be weak, with a cumulative decline of 0.95% in the four release days. Subsequently, grain market freight rates further declined, while coal and metal ore market freight rates rebounded slightly. TBI rebounded slightly on Friday, the 16th and finally closed at 992.18 points, a cumulative decrease of 5.58 points or 0.56% compared to May 9 (the last release day of Week 19).
The TBI index value and several ups and downs on a day-on-day basis are as follows:
TBCI Closed at 747.27 points, a cumulative decrease of 5.23 points or 0.70% compared to May 9 (the last release day of Week 19 ). The demand for coal imports has weakened, and market freight rates continue to decline. In terms of the ultra handy ship market, with an increase in available capacity, the freight index for the Indonesia to Qingdao route fell by 0.24% on a weekly basis. In terms of the Capsize market, the freight index of the Hay Point to Qingdao route fluctuated and fell, with a week on week decrease of 0.99%.
TBGI Closed at 878.56 points, a cumulative decrease of 3.25 points or 0.37% compared to May 9 (the last release day of Week 19). The demand for grain transportation is still acceptable, but the demand for coal transportation has weakened. Panamax ships have sufficient immediate capacity, and market freight rates have continued to decline slightly. The freight index for the South American to Tianjin route decreased by 0.53% on a weekly basis, the freight index for the US Gulf to Tianjin route increased by 0.32% on a weekly basis, and the freight index for the US West to Tianjin route decreased by 0.04% on a weekly basis.
TBMI Closed at 1350.70 points, a cumulative decrease of 8.26 points or 0.61% compared to May 9 (the last release day of Week 19). In terms of iron ore, the overall market atmosphere was quiet at the beginning of the week, and freight rates continued to decline. As the weekend approached, inquiries from Australian and Brazilian miners increased, driving the market atmosphere to improve. The freight index for the Australian Western to Northern China route fell by 0.99% week on week, while the freight index for the Brazil to Tianjin route rose by 0.49% week on week. In terms of nickel ore, the Philippines’ nickel ore shipments have reduced, and the overall market capacity is abundant. The freight index for the Surigao to Tianjin route fell by 0.33% on a weekly basis.
IV. Tianjin Domestic Container Freight Index (TDI)
In Week 20 (May12-May16), the trend of the Tianjin Domestic Container Freight Index (TDI) is shown in the chart below:
In Week 20, the Tianjin Domestic Container Index (TDI) experienced a narrowing rate of increase.
On May 12 (Mon.), the inbound index showed a slight upward movement, resulting in a marginal increase in the TDI. On May 13 (Tue.), the outbound index rose, contributing to a small further increase in the TDI, which then stabilized over the following days. On May 16 (Fri.), the inbound index slightly declined, causing a minor drop in the TDI. The index ultimately closed at 1127.63 points, marking a cumulative increase of 13.35 points or 1.20% compared to May 9 (the last release day of Week 19).
The TDI index value and several ups and downs on a day-on-day basis are as follows:
The Tianjin Domestic Container Outward Freight Index (TDOI) Recorded a slight increase during the week. As of May 16, the index closed at 1076.42 points, reflecting a cumulative rise of 26.69 points or 2.54% compared to May 9 (the last release day of Week 19). Overall market cargo volume remained stable. Freight rates to South China continued their upward trend, with the freight index in Tianjin to Guangzhou route closing at 1053.44 points, up 2.94% from the previous week. Freight rates to Fujian rebounded after previous declines, with the freight index in Tianjin to Quanzhou/Xiamen route closing at 1162.66 points, a week-on-week increase of 2.44%. In contrast, freight rates to East China showed a slight decrease, as the freight index in Tianjin to Shanghai route fell to 1135.83 points, down 0.73% from the previous week.
The Tianjin Domestic Container Inward Freight Index (TDII) Showed minimal fluctuation, closing at 1178.83 points on May 16, which is unchanged from May 9 (the last release day of Week 19). Freight rates in the Fujian and South China markets stabilized over the week. In East China, freight rates saw a modest increase early in the week but declined later, ending flat overall. The freight indices for the Shanghai to Tianjin, Quanzhou/Xiamen to Tianjin, and Guangzhou to Tianjin routes closed at 1061.42 points, 956.75 points, and 1250.66 points respectively, all showing no change compared to the previous week.
(The analysis report is for reference only and at your own risk)
