News
In Week 27, freight rates for exporting containerized shipments from China went up and down mildly on many trade routes, although transport demand was stable. The Shanghai Shipping Exchange (SSE) unveiled on July 6 the Shanghai Containerized Freight Index (SCFI) fell 0.5% from the previous week.
On the Europe trade, the spot rate from Shanghai (excluding terminal handling charges) declined 0.5% to $881 per TEU. On the Mediterranean route, the average load factor of vessels from Shanghai was 95% or even higher. Due to rate reductions made by some carriers, however, the SCFI decreased 1.1% to $903 per TEU.
On the route to and from North America, some shippers had moved up shipments to avoid being impacted by the trade friction between the U.S. and China. As such, transport demand was at so high levels that many container freighters from Shanghai set sail from the port, being fully loaded. Spot rates were $1,555 per FEU to and from the west coast and $2,623 per FEU to and from the east coast, which improved 0.6% and 3.9%, respectively.
