I. Tianjin Shipping Index (TSI)
In Week 47, 2025 (Nov.17 to Nov.21), Tianjin Container Freight Index (TCI) increased at first and then decreased. Tianjin Bulk Freight Index (TBI) continued to increase. Tianjin Domestic Container Freight Index (TDI) continued to increase. The TSI fluctuated upwards, eventually closing at 1041.47 points, with a cumulative increase of 8.31 points or 0.80% from Nov.14 (the last release day of Week 46). The trend of TSI is as follows:
The value and trend of TSI is as follows：
II. Tianjin Container Freight Index (TCI)
In Week 47, 2025 (Nov.17 to Nov.21), the trend of Tianjin Container Freight Index (TCI) is as follows:
In Week 47, the TCI experienced narrow fluctuations after surging and then falling.
On Nov.17 (Mon.), the freight rates in European route, Mediterranean route, Thailand-Vietnam route and Indonesian route increased, and the freight rates in American route and South American route decreased greatly. The TCI climbed slightly, with the increase of 0.31%. From Nov.18-Nov.21 (Tue.-Fri.), the freight rate in Mediterranean West route increased steadily, and the freight rates in Thailand-Vietnam route and Indonesian route continued to increase. The freight rates in American route, South American West route and South American East route continued to decrease, and the freight rates in European route, Mediterranean East route and Central and South American route kept steady. The TCI fluctuated downwards, with the cumulative decrease of 0.66% on four releasing days.
Finally, the TCI closed at 1095.91 points, with a cumulative decrease of 3.94 points (0.36%) from Nov.14 (the last release day of Week 46).
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 The market supply remained stable, and as the long-term agreement negotiation period approached, freight rates increased slightly. The freight indices in European route, Mediterranean East route and Mediterranean West route closed at 673.16 points, 881.58 points and 1165.38 points, with the increase of 2.38%, 2.07% and 2.19% on a week-on-week basis.
American route After the market capacity was restored, there were ample spaces and fierce competition for cargo sources, leading shipping companies to significantly reduce freight rates.The freight indices in American West Coast route and American East Coast route closed at 753.15 points and 727.69 points, with the cumulative decrease of 16.36% and 15.50% in the week.
South American route Local enterprises’ inventory levels continued to rise, and importers slowed down their restocking pace. Coupled with factors such as the recent depreciation of the local exchange rate and the decline in ship fuel prices, freight rates plummeted this week. The freight indices in South American West route, South American East route and Central and South American route closed at 690.61 points, 1079.57 points and 923.24 points, with the decrease of 15.03%, 8.93% and 9.25% on a week-on-week basis.
Southeast Asian route During the traditional peak shipping season, market cargo volume rebounded. Coupled with the ongoing congestion at the Ho Chi Minh Port, container shortages on Thai shipping routes, and typhoons in the Indonesian region, market freight rates further increased this week. The freight indices in Thailand-Vietnam route and Indonesian route closed at 512.73 points and 593.64 points, with the cumulative increase of 8.11% and 5.46% in the week.
III. Tianjin Bulk Freight Index (TBI)
In Week 47, 2025 (Nov. 17 to Nov. 21), the trend of Tianjin Bulk Freight Index (TBI) was released as shown below:
In Week 47, the TBI continued to rise throughout the week.
From Nov. 17 to Nov. 18 (Mon. to Tue.), coal market freight rates rose slightly, and grain market freight rates fluctuated narrowly, and metal ore market freight rates continued to rebound. The TBI increased for two consecutive release days, with a cumulative increase of 1.05%. From Nov. 19 to Nov. 21 (Wed. to Fri.), coal, grain, and metal ore market freight rates all showed an upward trend. The TBI rose further, ultimately closing at closed at 1148.21 points, with a cumulative increase of 23.19 points or 2.06% compared to Nov. 14 (the last release day of Week 46).
The TBI index value and several ups and downs on a day-on-day basis are as follows:
Tianjin Bulk Coal Freight Index (TBCI) Closed at 872.96 points, a cumulative increase of 14.43 points or 1.68% compared to Nov. 14 (the last release day of Week 46). China’s coal imports remained stable, driving market freight rates to rise further. In terms of the supramax market, the freight index for the Indonesia to Qingdao route rose slightly consecutively, with a increase of 0.36% this week. In terms of Capesize ship market, the freight index for the Hay Point to Qingdao route saw a significant increase at the beginning of the week, with a week on week increase of 2.44%.
Tianjin Bulk Grain Freight Index (TBGI) Closed at 945.63 points, a cumulative increase of 2.72 points or 0.29% compared to Nov. 14 (the last release day of Week 46). U.S. soybean exports increased slightly, consuming part of the shipping capacity, and freight rates in the Panamax ship market remained generally stable. The freight index for the South America to Tianjin route rose by 0.04% on a weekly basis and the freight index for the US Gulf to Tianjin route increased by 0.54% on a weekly basis. In contrast, the freight index for the West America to Tianjin route decreased by 0.05% on a weekly basis.
Tianjin Bulk Mineral Freight Index (TBMI) Closed at 1626.04 points, a cumulative increase of 52.42 points or 3.33% compared to Nov. 14 (the last release day of Week 46). In terms of iron ore, Brazilian miners leased a large amount of market shipping capacity, while Australian miners also had active transactions, leading to a significant rise in market freight rates. The freight index for the Western Australia to Northern China route increased by 3.50% on a weekly basis, and the freight index for the Brazil to Tianjin route rose by 4.27% on a weekly basis. In terms of nickel ore, the supramax ship capacity was consumed, and the freight index for the Surigao to Tianjin route increased by 0.37% on a weekly basis.
IV. Tianjin Domestic Container Freight Index (TDI)
In Week 47 (Nov.17 to Nov.21), the trend of the Tianjin Domestic Container Freight Index (TDI) is shown in the chart below:
In Week 47, the Tianjin Domestic Container Freight Index rose slightly.
From Nov.17 to Nov.19 (Mon. to Wed.), the inbound index remained stable, and the outbound index rose slightly, and the TDI fluctuated slightly. On Nov.20 (Thur.), both the inbound and outbound indices rose slightly, and the TDI continued to rise. On Nov.21 (Fri.), the inbound and outbound indices returned to stability. The TDI closed at 1128.43 points, with an increase of 7.30 points or 0.65% compared to Nov.14 (the last release day of Week 46).
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 slightly, closing at 1203.27 points on Nov.21, a cumulative increase of 3.06 points or 0.25% compared to Nov.14 (the last release day of Week 46). The domestic trade containerization market for Tianjin’s outbound shipments remained stable, there was insufficient driving force for the increase in freight rates towards East and South China and the freight rates kept stable. The freight indices for the Tianjin to Shanghai and Tianjin to Guangzhou routes closed at 1103.09 and 1164.00 points, respectively, and remained unchanged on a week on week basis. The demand for booking towards Fujian supported the sustained rise in freight rates, with the increase narrowing compared to the previous week. The Tianjin to Quanzhou/Xiamen route freight rate index closed at 1458.25 points, with a week on week increase of 1.42%.
The Tianjin Domestic Container Inward Freight Index (TDII) Saw a slight increase, closing at 1053.58 points on Nov.21, a cumulative increase of 11.55 points or 1.11% compared to Nov.14 (the last release day of Week 46). The freight rates in East China and Fujian remained stable, with the Shanghai to Tianjin route and Quanzhou/Xiamen to Tianjin route freight rate indices closing at 1053.67 and 821.06 points, respectively, unchanged from the previous week. Nansha Port was still congested, and freight rates slightly increased. The freight index for the Guangzhou to Tianjin route closed at 1111.70 points, up 1.46% on a weekly basis.
(The analysis report is for reference only and at your own risk)
