News
The China Containerized Freight Index (CCFI) announced by the Shanghai Shipping Exchange (SSE) on Friday marked 1011.55 points in the week ending November 1, up 3.6% from the previous week, thanks to an improved supply-demand picture in the China export container trade market. The Shanghai Containerized Freight Index (SCFI) surged 26.5% last week.
According to the latest SCFI data issued by SSE, spot container rates on the trade from Asia to North Europe and the Mediterranean jumped to US$1,423 and $1,499, up whopping 112.4% and 111.7% from the previous week, respectively.
On the eastbound transpacific trade, CCFI remained almost unchanged at 956.43 for shipments from Shanghai to the U.S. West Coast and 1,188.30 to the U.S. East Coast last week.
Other trade lanes showed little change excluding the Shanghai to Middle East and Gulf trade which saw spot rates surge by 71.6% from a week before to $935.
