Four major factors driving up sea freight prices, collective shipping index up over 60% in the past seven weeks.

Due to the turmoil in the Middle East and the sharp rise in shipping prices, international shipping prices continue to rise. On June 1st, the container shipping index futures opened and soared straight up, with the main 2607 contract reaching a maximum increase of 13.08% during the trading day, closing up 11.69%. This contract has been rising continuously for seven weeks since late April, with a cumulative increase of 60.78%. In the spot market, according to data from the VIMOC platform, due to the peak season arriving earlier than usual this year, the container shipping market in both east-west directions is gradually strengthening. As of the week ending May 22nd, shipping prices on the Shanghai-Genoa and Shanghai-Rotterdam routes increased by 10% and 15% respectively compared to the previous week. In addition, there were also significant increases on the South American and Australia-New Zealand routes.