News
The Shanghai Shipping Exchange (SSE) announced on March 9 that the Shanghai Containerized Freight Index was 729.49 points, which went down 5.6% from the previous week due to lack of demand as factory production had not yet returned to normal since the Lunar New Year.
As for spot freight rates from Shanghai, excluding terminal handling charges (THCs), containers were moved to and from Europe and the Mediterranean at US$791 per TEU and $701 per TEU, falling 4.4% and 2.8%, respectively, as many carriers slightly lowered their fares.
Freight rates were sluggish on the North America trade, too, resulting from intensified competition over cargo. The spot rate for services to the west coast was $1,143 per FEU, down 8.7%, and to the east coast, $2,181 per FEU, down 8.2%.
Fares went down 8.2% to $427 per TEU for shipments destined to the Middle East Gulf and down 11.7% to $1,003 per TEU for those bound for Australia and New Zealand. Thanks to a recovery in demand, in contrast, containers were carried to and from South America at a rate of $2,391 per TEU, which rose 3.6%.
