News
The Shanghai Shipping Exchange announced Friday that the Shanghai Containerized Freight Index (SCFI) dropped 10.8% from the previous week to 676.05 in the week ended on May 22, and the spot rates from Shanghai to North Europe plunged 32.5% week on week to $444 per TEU last Friday while Asia-Mediterranean rates declined 25.1% to $581 per TEU.
On the transpacific trades, the spot rates from Shanghai to U.S. West Coast ports declined 7% to $1,412 per FEU last Friday, the lowest since the beginning of 2010 while the rates to U.S. East Coast ports only fell 2.3% from a weak before.
