News
The Shanghai Shipping Exchange (SSE) recently announced the Shanghai Containerized Freight Index (SCFI) went up 15.7% from a month earlier to 565 points in May, triggered by notable increases of more than 80% in individual indexes for services to Europe, the Mediterranean and South America.
As for east-west routes, freight rates for services from Shanghai to Europe surged 88% to US$624 per TEU and for those to the Mediterranean, 82.7% to $857 per TEU. Fares for those to the west coast of North America leveled off at $814 per FEU. Freight rates for containers bound for the east coast of North America fell 3.6% to $1,627 per FEU.
Looking at north-south trades, freights went down 16.4% to $433 per TEU for shipments destined to the Middle East Gulf, up 1.8% to $398 per TEU for those to Australia and New Zealand, up 29.8% to $1,228 per TEU for those to West Africa, down 1.2% to $327 per TEU for those to Southern Africa (South Africa) and up 85.3% to $1,195 per TEU for those to South America.
In respect to short-sea services, fares increased 1% to $199 per TEU for containers to Japan (Kansai), 0.5% to $193 per TEU for those to Japan (Kanto), 3.5% to $59 per TEU for those to Southeast Asia, 1.9% to $105 per TEU for those to South Korea and 1.9% to $55 per TEU for those to Hong Kong. In contrast, freight rates decreased 2.4% to $160 per TEU for those to Taiwan.
