The train route for freight movement from China to Europe continues to chug along.
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| With growing demand naturally comes higher rates. |
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According to a recent article on theLoadStar.com, China to Europe rail freight volumes are continuing 2023’s path upward, enjoying an 11% year-on-year bounce in the first six months of this year, with some 1.23 million TEU hauled.
TheLoadStar says data from China State Railway Group, published on government websites, finds that more than 11,400 freight trains operated on the route in the first half of 2024; with the most recent monthly figures indicating that this positive momentum is continuing.
For example, July was the third consecutive month in which more than 1,700 trains made the journey between China and Europe through Russia, with 1,776 transporting some 185,000 TEU.
It appears the growth this year is partly attributable to the disruption in the Red Sea, with shippers looking to find routes around the threat of ships being fired upon with rockets wielded by so-called Houthi rebels operating out of Southern Yemen.
However, the Chinese government has also been rapidly developing new rail services as a result of Russia’s invasion of Ukraine. With traditional China-Europe services through Russia dealing with obstacles, Chinese operators have turned to Russia’s southern neighbors, with the number of routings through the likes of Kazakhstan
growing.
TheLoadStar reports that with the primary China-Europe rail services through Russia facing obstacle, Chinese operators have turned to Russia’s southern neighbors, with the number of routings now moving through countries such as Kazakhstan growing.
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With growing demand naturally comes higher rates.
TheLoadStar reports that rates seen for the week commencing 15 July were at around $8,000 pfor rail services departing from central China, while from East Coast Chinese cities they came in around $9,400.
The report adds that average rates now being offered by Chinese forwarders on export services have surpassed $10,000 per TEU, with some quotes at more than $12,000.
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