News
The Shanghai Shipping Exchange's Shanghai Containerized Freight Index (SCFI) climbed 3.3% to a reading of 940.86 in the week ended Friday, January 4, 2019 as a result of rate hikes successfully implemented by shipping lines.
Spot rates from Shanghai to Europe leveled off at $996 per TEU last week, while spot rates from Shanghai to the Mediterranean rose 3.1% to $997 per TEU.
Meanwhile, spot rates from Shanghai to the U.S. West Coast rose 2.7% to $1,933 per FEU while spot rates from Shanghai to the U.S. East Coast also achieved a 4.0% gain to $3,119 per FEU, backed up by favorable consumer demands.
