News
The Shanghai Containerized Freight Index (SCFI) was 732.04 points last week, going up 3.8% from the previous week, according to the Shanghai Shipping Exchange (SSE).
The container spot rate, which does not include terminal handling charges (THCs), for shipments from Shanghai to Europe increased 5% to US$729 per TEU, while services to and from the Mediterranean were provided at a freight rate of $598 per TEU, which only rose a minute 0.8% due to weaker demand than the Europe trade route.
On the route to North America, transport demand was stable. The rate for containers to the west coast was $1,177 per FEU and to the east coast, $1,901 per FEU, which, as such, hiked 7.3% and 13.1%, respectively.
In contrast, containers were moved at a fare of $391 per TEU to the Middle East Gulf, which declined 2.5%. The rate for those to Australia and New Zealand fell 5.7% to $1,280 per TEU, resulting from competition over cargo.
Demand was stable on the route from Shanghai to South America as well, while supply and demand was well balanced. As a consequence, the rate improved 4.3% to $2,725 per TEU.
Container movement was favorable to Japan, while the market was brisk, too. The container spot rates remained unchanged at $215 per TEU for both containers to Kansai and Kanto.
