Freight Rates Surge, Inquiries Soar: Is the U.S. Route Spring Coming After Tax Cuts?

According to the latest weekly report "China Export Container Shipping Market Weekly Report" released by the Shanghai Shipping Exchange, the shipping market is supported by positive news, with active booking activities and continued rising freight rates. On October 31, the market freight rates (including shipping and surcharges) for exports from Shanghai Port to basic ports on the U.S. West Coast and U.S. East Coast were $2,647/FEU and $3,438/FEU respectively, surging by 22.9% and 13.4% from the previous period.

Reporter's Visit to Yantian Port: U.S. Route Cargo Handling Accounts for Nearly 60% of Total Port Volume

Staff at Yantian Port told reporters that on October 31, there were 8 U.S.-route cargo ships berthed, with a handling volume of 50,000 TEUs, accounting for nearly 60% of the port's total daily handling volume.

Shenzhen, Guangdong: U.S. Customers Rush to Seek Cooperation; Foreign Trade Enterprises Gain Strong Confidence

The positive results of the China-U.S. Economic and Trade Consultations in Kuala Lumpur are also a major boon for foreign trade enterprises. What changes have occurred in the business of foreign trade enterprises recently?

A cross-border logistics enterprise stated that previously, some U.S.-route cargo types had a cautious shipping rhythm. After the release of the Joint Arrangement for China-U.S. Economic and Trade Consultations in Kuala Lumpur, customer inquiries for shipments to the U.S. have increased significantly.

Zhuang Qiurui, Sales Director of a Shenzhen-based cross-border logistics enterprise: Transportation and customs clearance costs are expected to decrease by approximately 10%. Immediately after the policy was announced, we received inquiries from several North American customers who had suspended cooperation; they are all re-planning their shipping schedules for the Christmas season. Within less than 24 hours, our inquiries for U.S.-bound shipments rose by more than 30%.

Reporters visited a Shenzhen-based foreign trade enterprise specializing in the design and manufacturing of printed circuit boards and electronic components. Gong Shengwen, the enterprise's person in charge, stated that after the release of the Joint Arrangement, some U.S. customers have begun to contact them.

Gong Shengwen, Founder of a Shenzhen-based circuit board design and manufacturing enterprise: Currently, some U.S. customers are taking the initiative to contact us to see if they can resume business cooperation.

Zhang Zhifei is the person in charge of a cross-border e-commerce company specializing in pet supplies and home appliances, with most of its customers in the U.S. market. He told reporters that he had a meeting with some U.S. buyers at noon; the products they ordered at the beginning of the year were on hold due to tariff issues, but now they can be put back on the agenda.