News
Spot rates from Shanghai to Europe fell in the week ended August 5 after surging above $1,000 per TEU in the previous week.
According to the Shanghai Shipping Exchange, the China Containerized Freight Index (CCFI) quoted 702.25 points last week, down slightly by 0.3% from the previous week while the Shanghai Containerized Freight Index (SCFI) declined 8.7% on week to 680.53.
The spot rate from Asia to North Europe last week plunged 23.5% from the previous week to $861 per TEU and the rate to the Mediterranean fell 13.8% week on week to $865, after having soared to $1,125 per TEU and $1,004 per TEU respectively in the previous week.
On the transpacific trades, the spot rates from Shanghai to U.S. West Coast ports declined 3.4% to $1,277 per FEU last Friday, and the rates to U.S. East Coast ports dropped 3.8% from a weak before to $1,844 per FEU.
