News
The Shanghai Containerized Freight Index (SCFI) was 840.36 points last week, almost flat from the previous week, with a minute 0.1% increase, according to the Shanghai Shipping Exchange (SSE).
The container spot rate, which does not include terminal handling charges (THCs), for shipments from Shanghai to Europe declined slightly by 0.7% to US$891 per TEU, while services to and from the Mediterranean were provided at a freight rate of $761 per TEU, which only rose a minute 0.3% due to weaker demand than the Europe trade route.
On the route to North America, the rate for containers to the west coast was $1,436 per FEU, down 5.2% week on week and to the east coast, $2,792 per FEU, which hiked 7.1% from the previous week.
Containers were moved at a rate of $572 per TEU to the Middle East Gulf, which jumped 27.1% while the rate to Australia and New Zealand fell 2.8% to $1,360 per TEU after the substantial rate increases effected in the previous week.
Demand recovered on the route from Shanghai to South America but the rate competition among the carriers has prompted downward pressure on rates, resulting in a decline of 13.4% to $2,179 per TEU.
The spot market from China to Japan fluctuated slightly downward, to $209 to the Kansai area and $210 to the Kanto area, down 4% and 3%, respectively.
