19.01.29Spot Rates from China Drop in Many Trade Routes

Freight rates for exporting containers from China declined on many trade routes last week, as pre-Chinese Lunar New Year shipments had reached a peak, and, as a result, transport demand declined in most of the trade routes. The Shanghai Containerized Freight Index (SCFI) for the week ended Friday, January 25 fell 2.3% from the previous week to 945.44 points, according to the Shanghai Shipping Exchange (SSE).

Spot rates for containers moving from Shanghai to Europe fell 1% to US$960 per TEU from the previous week while on the Mediterranean trade the freight rate also dropped 2.1% to $957 per TEU.

On the routes from Shanghai to North America, spot rates decreased 3.5% to $2,039 per FEU to the U.S. West Coast and 1.6% to $3,137 per FEU to the U.S. East Coast.