The latest Shanghai Container Export Price Index (SCFI) showed that while most major routes remained stable or slightly declining, shipping prices for Asia-South America and West Africa routes rose sharply, driving SCFI to a weekly increase of 0.7% for the third week in a row. Among them, shipping prices for the Far East-South America routes increased most significantly, rising to $4153 per TEU, a cumulative increase of up to 32.78% in just two weeks.

The growing demand for transportation and the tension in the supply of cabins are the main reasons for the surge in shipping prices, especially on the East Coast of South America, as the demand for destination transportation continues to grow, the routes remain in a tense state, driving market shipping prices to continue to rise. The Ningbo Export Container Shipping Price Index (NCFI) also reflects this trend, with the South American East Route Shipping Price Index rising significantly by 15.0% over the previous week, showing the market’s heat.

To meet market demand and seize the opportunity of high shipping prices, the world’s major shipping companies are changing their strategies. The five largest shipping companies CMA CGM, COSCO, OOCL, Evergreen and PIL have jointly announced the launch of new Latin American routes. This new service includes two separate routes, covering the main ports of Asia to the east coast of South America, and is expected to further intensify competition in the region.

The first line will deploy 12 container vessels of the 14,000TEU level, departing from Tianjin Port, covering major ports between Asia and South America, including Qingdao, Shanghai, Ningbo, Serpent, Singapore, etc. The second line will deploy 13 vessels, departing from Shanghai Port, ports involved include Hong Kong, Rio de Janeiro, Santos, etc.

At the same time, SunnyThe MaritimeThe company plans to optimize its existing SA3 routes to the Far East to the East of South America in early May and launch new SA5 routes to enhance its competitiveness in the South American market.These adjustments will not only provide more diversified and reliable container shipping services, but also rapid response to changing market demands.

With the complexity of the global trade structure, the South American market is becoming more and more important for Asian exporters.High shipping prices, while increasing transportation costs, also reflect strong market demand.In this context, shipping company strategic adjustments and the opening of new routes are expected to bring more freight options and further boost trade exchanges between Asia and Latin America.

Overall, the shipping industry is experiencing a period of dynamic change, with major shipping companies constantly adjusting their strategies to meet market demands whileining sensitivity and responsiveness to global trade trends. In the future, with the opening of new routes and the further growth of market demand, trade ties between Asia and South America are expected to be closer.