News
Freight rates for services exporting containers from China further fell last week. The Shanghai Shipping Exchange （SSE） reported the China Containerized Freight Index （CCFI） was 1307.18 points, down by 0.5% from a week earlier, while the Shanghai Containerized Freight Index （SCFI） was 1327.45 points, down 3.3% on the previous week.
On the trade from China to Europe, the minimum rates （seaborne freight rates and various charges） dipped below the $1,500 per TEU level for services from Shanghai to Europe.
Freight rates from Shanghai to the U.S. also declined but not as steep as those on the European route. The U.S. West Coast rates stood at $2,389 per FEU while the U.S. East Coast rates were $3,339 per TEU, week-on week-declines of 3.5% and 2.2%, respectively.
Average cargo utilization on the trade from Shanghai to Japan remained at 65%, almost the same as the previous week and CCFI as a result stayed about the same at the previous week at 738.91.
