News
In the week ended August 8, the China export container market saw mixed situations in volumes and freight rates depending on trade lanes though overall demand remained stable.
On August 8, the China (Export) Containerized Freight Index (CCFI) issued by the Shanghai Shipping Exchange (SSE) was quoted 1112.63, up by 1.4% week on week; the Shanghai (Export) Containerized Freight Index (SCFI) issued by SSE fell by 2.0% from last week to 1171.63 points.
Spot freight rates from Shanghai to North Europe fell 7.8% to US$1,341 per TEU on Friday following a 20.9% surge in the previous week as a result of freight rate increases announced by shipping lines. On the trade from Shanghai to the Mediterranean, container freight rates rose slightly by 0.3% on week to $1,613.
Freight rates in the transpacific trades had been kept at higher levels after substantial rate increases in the previous week. China - US west coast rates stood at $2,189, slightly down by 0.4% and China - US west coast rates remained unchanged at $4,187.
