News
The composite Shanghai Containerized Freight Index (SCFI) quoted 3,662.3 points in Week 40, down 0.7% from the previous week, marking two consecutive weeks of growth, according to the Shanghai Shipping Exchange (SSE).
On the east–west trades, spot rates for container exports from Shanghai were down 4.9% to $2,199 per TEU to Europe and down 2.3% to $2,996 per TEU to the Mediterranean but up 1.5% to $7.578 per FEU to the west coast of North America and up 0.3% to $10,528 per FEU to the east coast of North America.
On the north–south routes, ex-Shanghai container spot rates were up 4% to $3,291 per TEU to Southern Africa and up 0.6% to $3,971 per TEU to East and West Africa. Rates were, however, down 1.5% to $6,489 per TEU to the Middle East Gulf, down 2.5% to $2,762 per TEU to Australia and New Zealand, and down 8.4% to $5,980 per TEU to South America.
Within Asia, containers from Shanghai were moved at a rate of $403 per TEU to South Korea, up 3.1%; at $1,171 per TEU to Southeast Asia, up 0.4%; at $328 per TEU to Kansai, Japan, up 2.1%; and at $333 per TEU to Kanto, Japan, unchanged.
The SCFI represents spot rates for container exports from Shanghai that do not include terminal handling charges (THCs), which was set at a baseline of 1,000 points on Oct. 16, 2009.
