Recently, the container shipping market price hike plan, scheduled for July 1, triggered a market price hike due to Mediterranean Shipping (MSC)ining the original price on the U.S. West Line, and most companies have lowered shipping prices. The U.S. East Line price hike is basically implemented, but there is a possibility of a future hike. MSC announced shipping prices will beined until the end of July, bringing a breath for shippers. At the same time, the European line’s downturn, Singapore’s port congestion improved, and global port congestion is expected to ease with the early season and increased capacity.

Most shipping companies have recently reduced prices.

Recently, the container shipping market price hike plan, scheduled to be implemented on July 1, suffered variations. The companies originally planned to raise the price per box on the U.S. West Line from $7100-7500 to $8100-8500, but the industry giant Mediterranean Shipping (MSC) unexpectedly kept the original price $7500.

The move quickly triggered a chain reaction, and other shipping companies followed by a price reduction strategy in response to market changes. As of July 5, most shipping prices had been reduced to below $9,900, while the latest price announced by Maersk on its website last Friday evening was lowered to $6,600.

Subsequently, the South Korean Merchant Ship (SM LINE) first reduced the cost of shipment to $600 per large box, followed by a successive $200 to $300 for the Middle Sea, the East overseas and the Japan Ocean Network. As of last Friday, in addition to a large ship company still offering $8,000, most of the other companies have reduced the cost of shipment to below $9,900 and even two shipping companies offered a discount price of $7,500 for specific flights.

Analysts in the cargo industry believe that MSC’s pricing strategy on the US West line has significantly impacted the shipping price trend across the market. Additionally, the increase in overtime ships and new routes in the US West region since June, and the expected continued increase in shipping power during this month, have eased the previous tension in the cabin, further driving the downward trend in shipping prices.

By contrast, the U.S. East Route has not yet seen a noticeable new increase in traffic, so the price hike planned for July 1 was mostly implemented smoothly. Though Sunming Shippingined its initial $1,000 hike, U.S. Eastern Shipping and Overseas notified customers last Friday of a $100 price reduction per box, although this decline was relatively limited compared to the $2,000 hike on July 1, but still reflects the sensitivity of the market to the price adjustment. At the same time, given the continued increase in Panama Canal passage and the possibility of a U.S. East strike, senior foreign shipping companies predicted that the price of U.S. Eastern Shipping would still be further reduced in the future.

In addition, on the European side, the latest China export container shipping price index from the Shanghai Shipping Exchange showed that on July 5th, the shipping price (maritime and maritime supplementary fees) from Chinas Shanghai port to the European basic port market was $ 4,857 / TEU, down 0.5% from the previous period, which is the first time since the last 11 weeks, although the drop is not great, but the stagnation has already occurred for the first time, which deserves special attention.

According to Clarkson’s report, the current global port congestion is around 9 million (20-foot boxes), close to the peak level of 9.6 million standard boxes during the outbreak, but this year’s container transport season starts early and the chances of an early end are high. British shipping consultancy Drewry estimates that the congestion will remain high as major international shipping ports, but the congestion is expected to ease with the increase in capacity and the restoration of flight plans.

Ship company shares fell, shipping futures prices rarely fell

On July 8, there was a rare drop in shipping prices in the global shipping market, a collective collapse in the stock price of shipping companies, and a rare fall in the European shipping price futures index, in which the shipping stock markets leading vanguard Vanguard Shipping (2613.TPE) disc once touched the drop-off board, the entire day closed 78 yuan of new Taiwanese coins, falling 6.81%; the early morning opening of the Long Sea Control (601919.SH) also repeatedly defeated more than eight percentage points, the final record received 6.07%.

As of July 8, at 16 p.m., the stock of all publicly listed container companies worldwide fell. On the same day, the European Line Futures Index was even more catastrophic, with the latest closing data showing a very rare collective downturn since the futures listing on the same day, including SCFIS Europe 2410, SCFIS Europe 2412, SCFIS Europe 2502 and SCFIS Europe 2504.

Indirect drivers of maritime crash: negotiations in Pakistan or progress

A senior source from the Palestinian Islamic Resistance Movement (Hamas) said on July 6 local time that Hamas had abandoned its demands that Israel first pledge a full ceasefire before signing a ceasefire and release agreement, and agreed to continue negotiations on issues such as exchange of detainees during the ceasefire.

A Palestinian official revealed that a framework agreement could be reached if Israel accepted the proposal, ending the nine-month war between Israel and Hamas in Gaza, according to Reuters.

In the past few days, the United States, Qatar, and Israel have carried out intense diplomatic crossings, according to sources, the U.S. government is struggling to push for a deal ahead of the U.S. presidential election in November.In addition, a Lebanese Hezbollah official told Reuters that Hezbollah would also make an immediate ceasefire if a ceasefire was reached in Gaza.

Israeli Prime Minister Benjamin Netanyahu said on Friday that Hamas had submitted a proposal to revise the terms of the agreement this week and that Israel was willing to resume previously stalled negotiations. Israeli Prime Minister Benjamin Netanyahu said on Friday that he had sent the head of the intelligence and intelligence service (Mossad) Barnea to Qatar to engage in indirect negotiations on a ceasefire in the Gaza Strip and the release of detainees.