The latest news from Matson, the last vessel of CCX is gonna sail out from Ningbo on Sep 6th and then from Shanghai on Sep 8th.
This is the last one in history. We are gonna say good bye to CCX. No CCX forever!
Matson's official website did not say a word on specific reason, but without doubt
this is a strong proof of the decline on Sino-US Trade Volume. As I think, there are 4 reasons for Matson's action
No1 High Empty Container Rate
No2 Lower Demand for Fast boats in the Market
No3 Decreasing Market Shipping Rate
According to the date of FBX, the container rates from China to L.A fell sharply by 6% to $5,419/FEU on last Friday
No4 Decreasing Cargo Volume
As sellers, what do you think of the suspension on CCX?
After CCX stops, Matson's cargo will be loaded on CLX and CLX+ routes
This will cut down lots of operating costs. At the same time, it'll reduce the whole spaces and we are very likely to see higher freight rate in the coming future.