News
Containerized export volumes from China surged substantially last week against the backdrop of cargo rush before the Labor Day holidays. The Shanghai Containerized Freight Index (SCFI) went up by 12.6% from the previous week to 909.25 points, according to the Shanghai Shipping Exchange.
Spot rates for services from Shanghai to Europe rose16.0% to US$1,021 per TTEU in the week ending on April 28 and for those to the Mediterranean, 20.2% to $1,011 per TEU.
On the transpacific trades, robust containerized exports prompted carriers to raise freight rates and, as a results, spot rates for shipments moving from Shanghai to the west and east coast of the U.S. soared by 21.1% and 13.8% from the previous week to $1,606 per FEU and $2,625 per FEU, respectively.
