I. Tianjin Shipping Index (TSI)
In Week 36, 2022 (September 5 to September 9), Tianjin Container Freight Index (TCI) further declined, Tianjin Bulk Freight Index (TBI) rose significantly and then fell, Tianjin Domestic Container Freight Index (TDI) rose rapidly, Tianjin Shipping Index (TSI) weakened slowly, closed at 1494.09 points on September 9, with a cumulative decrease of 12.44 points (0.83%) compared with September 2 (the last release date of week 35). The trend of TSI is as follows:
The chart above shows the trends of TSI from August 29 to September 9. The value of TSI in Week 36 is as follows:
II. Tianjin Container Freight Index (TCI)
In Week 36, 2022 (September 5 to September 9), the trend of Tianjin Domestic Container Freight Index (TDI) is shown in the figure below:
In Week 36, the TCI continued to decline.
From September 5 to September 7 (Monday to Wednesday), the freight rates in Europe route, Mediterranean route, American West Coast route, South America route, Southeast Asian Klang route and Southeast Asian Ho Chi Minh route continued to decline, and the freight rate in American East Coast route became stable, the TCI declined further, with a cumulative decrease of 2.06% during the three release days. From September 8 to September 9 (Thursday to Friday), the freight rates in Europe route, Mediterranean West route and Central and South American route remained stable and fell slightly, the freight rates in Southeast Asian Klang route and Southeast Asian Ho Chi Minh route fell rapidly, the freight rates in Mediterranean East route, American East Coast route, South America West route and South America East route remained stable, decline of TCI slowed down, with a cumulative decrease of 11.19 points during the two release days.
TCI finally closed at 2278.26 points, with a cumulative decrease of 59.24 points (2.53%) compared with September 2 (the last release day of week 35).
The TCI index value and several ups and downs on a day-on-day basis are as follows:
European/Mediterranean route Although the turnover of liners slowed down due to strikes at major ports such as Britain and Germany, market freight rates continued to fall due to the continuous contraction of local import demand. This week, the decline in the index value of route from Tianjin to Europe, Mediterranean East and Mediterranean West narrowed. The index values closed at 2227.55 points, 2326.37 points, and 2802.26 points respectively, down 2.15%, 0.67%, and 4.80% on a week-on-week basis.
American route The market shipping volume hovered at a low level, while the freight rate in the American West Coast route was stable and fell slightly, and the index value closed at 2067.18 points, down 1.55% on a week-on-week basis. In contrast, due to the congestion of the ports in American East Coast route, the market freight rate this week showed a trend to stop falling and stabilize, and the index value remained at 2175.19 points, flat on a week-on-week basis.
South American route Due to the pressure of high inflation and US dollar interest rate hike, the local currency devalued, and the import purchase orders of enterprises fell further. This week, the market freight rate dropped at an accelerated pace. The index value of the routes from Tianjin to South America West, routes from Tianjin to South America East and routes from Tianjin to the Central and South American closed at 1954.49 points, 3642.37 points and 2630.39 points respectively, down 7.83%, 3.49% and 2.12% on a week-on-week basis. According to relevant trade data, the volume of domestic export mainstream trade varieties continued to decline, in the future, it may take time for exports to stabilize.
Southeast Asian route Market supply competition was fierce and market spot shipping capacity was abundant, the freight rate continued to decline significantly this week. The index value of routes from Tianjin to Southeast Asian Klang and Southeast Asian Ho Chi Minh respectively closed at 584 points and 274.95 points, down 8.94% and 7.31% on a week-on-week basis.
III. Tianjin Bulk Freight Index (TBI)
In Week 36, 2022 (September 5 to September 9), the trend of Tianjin Bulk Freight Index (TBI) is as follows:
In Week 36, the Tianjin Bulk Freight Index (TBI) fluctuated.
On September 5 (Monday), the freight rates in coal and grain market rose slightly, and the freight rate in metal ore market rebounded significantly, driving TBI up by 2.04% on a day-on-day basis. Subsequently, the freight rate in grain market fluctuated narrowly, and the freight rate in coal and metal ore market fell again, dragging TBI down slightly from September 6 to September 8 (Tuesday to Thursday), with a cumulative decrease of 2.77%.
On September 9 (Friday), the freight rate in the coal market rebounded slightly, the freight rate in the grain market rose slightly, and the freight rate in the metal ore market remained stable generally. The TBI index rose again and finally closed at 1053.57 points, down 4.06 points (0.38%) compared with September 2 (the last release day of week 35).
The TBI index value and several ups and downs on a day-on-day basis are as follows:
TBCI fluctuated and fell, and the index value finally closed at 849.66 points, with a cumulative decrease of 36.00 points (4.06%) compared with September 2 (the last release day of week 35). In the supramax vessel market, the coal cargoes remained stable generally, but the available shipping capacity of the supramax vessel market increased, dragging the index value of route from Indonesia to Qingdao down this week, with a cumulative decrease of 2.71%. In terms of the capesize ships market, the index value of route from Hay Point to Qingdao continued to rise at the beginning of the week, and fell significantly at the end of the week, with a total decrease of 5.29% in the week.
TBGI fluctuated and fell at the beginning of the week and slightly stabilized and recovered at the end of the week. The index value finally closed at 998.56 points, with a cumulative decrease of 4.46 points (0.44%) compared with September 2 (the last release day of week 35). The transaction volume of grain cargoes in the American West Coast route gradually increased, which consumed a large amount of market capacity, and the freight rate in grain market gradually stopped falling and stabilized. The index value of the route from South America to Tianjin fell by 0.77% this week, the index value of route from U.S. Gulf to Tianjin fell by 0.11% this week, and the index value of route from American West Coast to Tianjin fell by 0.73% this week.
TBMI rebounded obviously at the beginning of the week, continued to decline slightly at the end of the week, and finally closed at 1312.48 points, with a cumulative increase of 28.28 points (2.20%) compared with September 2 (the last release day of week 35). In terms of nickel ore, the typhoon weather at the beginning of the week led to a tight supply of market capacity, and the market freight rate continued to rise. At the end of the week, the weather influence gradually disappeared. In addition, the FFA forward contract price and fuel oil price dropped, the ship owner's ability to support prices weakened, and the market freight rate gradually fell. The index value of the route from West Australia to Northern China rose 3.75% this week and the index value of the route from Brazil to Tianjin slightly fell by 0.47% this week. In terms of nickel ore, nickel ore cargoes were scarce, and the index value of the route from Surigao to Tianjin fell by 0.78% this week.
IV. Tianjin Domestic Container Freight Index (TDI)
In Week 36, 2022 (September 5 to September 9), the trend of Tianjin Domestic Container Freight Index (TDI) is shown in the figure below:
In week 36, the Tianjin Domestic Container Freight Index (TDI) stabilized after consecutive increases.
From September 5 to September 7 (Monday to Wednesday), the index value in the outward market continued to rise, the index value in the inward market rose slightly, leading to a significant increase in TDI, with a cumulative increase of 2.31% during the three release days. From September 8 to September 9 (Thursday to Friday), the index value in the outward market and inward market stabilized and the TDI closed finally at 1474.70 points, with a cumulative increase of 33.31 points (2.31%) compared with September 2 (the last release day of week 35).
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) rose continuously, closing at 1246.81 points on September 9, with a cumulative increase of 57.61 points (4.84%) compared with September 2. This year's No. 11 typhoon landed in Shanghai and Zhejiang. The North-South round-trip cycle of coastal domestic trade liners was affected. The spot shipping capacity of Tianjin's outward container transport market was tight, and the freight rate showed an obvious upward trend. The index value of route from Tianjin to Quanzhou/Xiamen and route from Tianjin to Guangzhou closed at 1472.28 points and 1201.75 points respectively, up 8.43% and 4.57% on a week-on-week basis. The freight rate of route from Tianjin to Shanghai remained stable, and the index value closed at 1257.69 points, flat on a week-on-week basis. According to the data of industry institutions, the social inventory of major steel products in China this week was 10.8793 million tons, less 227,200 tons compared with the previous period, and less 1,399,200 tons compared with the same period last month.
The Tianjin Domestic Container Inward Freight Index (TDII) rose slightly, closing at 1702.58 points on September 9, with a cumulative increase of 9.00 points (0.53%) compared with September 2. The freight rate of route from Quanzhou/Xiamen to Tianjin continued to rise, and the index value closed at 1281.01 points, up 4.06% on a week-on-week basis; The freight rate in the route from Shanghai to Tianjin stopped last week's decline, and the index value closed at 1285.39 points, flat on a week-on-week basis; The freight rate in the route from Guangzhou to Tianjin remained stable, and the index value closed at 1865.92 points, flat on a week-on-week basis.
(The analysis report is for reference only and at your own risk)
