The Shanghai Containerized Freight Index (SCFI) has been declining for four consecutive weeks. The proposed rate increase plan for the US route by container shipping companies in May has fallen through. With the reemergence of idle capacity in the market, multiple international maritime research institutions are predicting an imminent freight rate war.

Freight forwarders have indicated that the US West Coast route experienced a slight decline last week, while this week, the US East Coast route was expected to decrease by approximately US$25 to US$50.

The European route remains relatively stable, and shipping companies estimated that they will continue to stabilize freight rates by reducing the number of sailings.