The situation of sea and air freight rates between China and Italy as regards import operations have significantly changed.
Here, the current average values of transport costs referable to major forwarding agents are shown.
A steady decline in sea freight rates from the main Chinese ports has been going on for some months now.
The following freight rates are recorded in this period (mid-October) (indicative values only)
From the port of Shanghai to the main Italian ports
Container 20 “$ 2500 (Just 1 month ago there was talk of $ 4000)
Container 40 “$ 4500 (Just 1 month ago there was talk of $ 8000)
As far as air transport is concerned, this is also downhill, even if not so marked.
From SHANGHAI airport to Italian airport the cost of air freight has gone from 8/10 $ per kg a few months ago to the current 4 $ / kg.
This rate is similar for Guangzhou (South China) airports while from Hong Kong the cost is currently still around 6 $ / kg.
Normally the transport situation is fluid in China. The only problem recorded in recent days is a partial blockade of the port of Ningbo due to Covid.
As regards medium / long-term forecasts, a further depreciation of freight rates is expected, also due to the forecasts of recession in the Euro area.
In fact, freight forwarders predict for next spring after the Chinese New Year period that a 20 “container could cost only $ 1500.
Further updates on the freight situation will be made in the next month.
