News
The Shanghai Shipping Exchange (SSE) unveiled on Oct. 12 the Shanghai Containerized Freight Index (SCFI) for the week of Oct. 8 went up 3.9% from the previous week, which was China’s National Day holidays, to 904.5 points.
On the China-Europe route, the balance between tonnage supply and demand slightly relaxed. Spot rates from Shanghai, which do not contain terminal handling charges (THCs), fell a minute 0.5% to $731 per TEU. Similar to the China-Europe route, the average load factor of ships leaving shanghai declined to some 85% on the China-Mediterranean route, leading to a 2.1% decrease in freight rates to $751 per TEU.
On the trade to and from North America, meanwhile, freight movement hovered at high levels due to massive consumption in the U.S., while the tonnage supply and demand balance was favorable, too. Spot freight rates to and from the west coast improved 7.3% to $2,503 per FEU. However those to and from the east coast remained nearly unchanged, sinking 0.5% to $3,304 per FEU.
