News
Asia - Europe container spot rates have been beaten down to new lows.
In the week ended on April 17, the Shanghai Containerized Freight Index (SCFI) produced by the Shanghai Shipping Exchange fell 9% from the previous week to 721.61 and the spot rate from Shanghai to North Europe plunged 14.4% to $399 per TEU and 11.0% to $540 on the trade from Shanghai to the Mediterranean, representing the 11th straight week of declines.
On the transpacific trades, the spot rate from Shanghai to U.S. West Coast ports plummeted by $309 or 16% from the previous week to $1,623 per FEU last week, and the rate to U.S. East Coast ports also fell by 8.8% from a weak before to $3,701 per FEU.
