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Freight rates for exporting containerized shipments from China fluctuated weakly last week. The Shanghai Shipping Exchange (SSE) unveiled on June 17 that the China Containerized Freight Index (CCFI) for the week of June 13 was 658.64 points, which remained nearly unchanged from the previous week. The Shanghai Containerized Freight Index (SCFI), meanwhile, was 521.6 points, which fell 6.5%, it added.

Due to the oversupply of tonnage, freight rates for containers from China to Europe and the Mediterranean did not even stay where they had been before they were raised. Spot rates for shipments from Shanghai to Europe (ocean freights and various charges that do not include terminal handling charges, THCs) were US$540 per TEU and to the Mediterranean, $660 per TEU, which went down 17.8% and down 16.2%, respectively.

Container movement was sluggish to North America, too. Spot rates for containers to the west coast of North America were $770 per FEU, down 5.1%, and to the east coast, $1,528 per FEU, down 7.3%.


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