Official Release: China Highway Logistics Freight Rate Index for July 2021
Release date:
2021-08-03
Author:
Jinhua Logistics
In July 2021, the China Highway Logistics Freight Index, jointly surveyed by the China Federation of Logistics and Purchasing and Lin’an Logistics Group, stood at 100 points, down 0.11% from the previous month but up 1.5% year on year. Looking at the weekly indices, freight rates declined week-on-week throughout the month.
2021 year 7 In [month], the China Highway Logistics Freight Index, jointly surveyed by the China Federation of Logistics and Purchasing and Lin’an Logistics Group, stood at… 100 The figure declined compared with the previous month. 0.11% , an increase compared to the same period last year 1.5% Looking at the weekly indices, the freight rate index declined on a month-over-month basis in each week of this month.
Figure 1 2016 China Road Logistics Freight Rate Index by Month Since [Year]
Table 1 2021 year 7 Monthly China Road Logistics Freight Rate Index Table
Looking at the vehicle-type indices, all segments registered a month-on-month decline, though they still posted modest year-on-year growth. The full-truckload index, which is primarily driven by bulk commodities and regional transportation, stood at… 100.5 The figure declined compared with the previous month. 0.13% , an increase compared to the same period last year 1.5% . In the LTL index, the LTL light-goods index is 98.1 The figure declined compared with the previous month. 0.01% , an increase compared to the same period last year 1.4% ; The LTL heavy cargo index is 100.4 The figure declined compared with the previous month. 0.12% , an increase compared to the same period last year 1.5% 。
Figure 2 2016 China Road Logistics Freight Rate Indices by Vehicle Type for Each Month Since [Year]
From a demand perspective, road logistics demand this month has eased compared to the previous period. PMI Data shows, 7 Monthly Manufacturing PMI The index is 50.4% , down from the previous month 0.5 percentage points, with all order‑related indices showing a decline. On the supply side, drivers’ willingness to work weakens during the off‑season, while overall transport capacity remains broadly stable. Taken together, this month—under the combined influence of the production off‑season and adverse weather conditions—road logistics demand has moderated somewhat. However, looking at the bigger picture, as the economy continues to recover steadily, in the first half of the year and beyond… 7 Overall freight rates for the month were higher than in the same period last year, and the decline in the freight rate index reflects short-term seasonal market adjustments. By region, the freight rate indices for the Northeast, Yangtze River Delta, Central China, Shandong Peninsula, and Southwest all declined, while the remaining four regions saw relatively stable month-over-month performance.
Looking ahead, with China’s economy continuing to recover steadily, market demand is expected to remain on an upward trajectory. However, the recent rebound in domestic demand has been moderating, and the combined impact of factors such as the pandemic and adverse weather conditions could further dampen growth. Meanwhile, capacity supply remains relatively ample, suggesting that the freight rate index may continue to fluctuate and trend lower.
Note
1 The China Highway Logistics Freight Index is a relative indicator that reflects the magnitude and trend of changes in highway logistics freight rates within China’s economic territory over a specified period.
2 The China Highway Logistics Freight Index is based on dynamic transaction data from highway logistics platforms, with Lin’an Logistics Network as a representative. At present, the price data collected covers the entire country. 9 Large logistics area, 38 a key city, 74 a logistics node platform, 1406 road transport routes, 200 Ten thousand freight vehicles.
3 , the China Highway Logistics Freight Index is based on 2012 year 12 The average price of the last week of the month serves as the base period, and the base point for the weekly index is 1000 , the base point of the monthly index is 100。
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