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Transport of demand for containerized exports from China are recovering after the Chinese New Year holidays but its pacer is slower than expected. As s result, spot rates from Shanghai declined on many trade routes last week. The Shanghai Containerized Freight Index (SCFI) fell 1.9% from the previous week to 727.88 points, according to the Shanghai Shipping Exchange (SSE) report unveiled on March 22, 2019.

Spot rate for containers moving from Shanghai to Europe was $684 per TEU, declining 4.2% from the previous week due to rate-slashing by some carriers though the average load factor of container freighters remained as high as 90%. On the Mediterranean trade, the average load factor from Shanghai was between 85-90%, almost the same as the average on the Europe route. As such, the freight rate decreased mildly, going down 2.1% to $732 per TEU.

On the route from Shanghai to North America, economic fundamentals were stable in the U.S. but growth in tonnage outpaced the recovery of transport demand. Spot rates were $1,329 per FEU for shipments from Shanghai to the U.S. west coast and $2,338 per FEU to the east coast, down 1.2% and 0.8%, respectively.

One the route between China and Japan, container movement was stable. The spot rates remained almost unchanged, sliding by 0.4% to $227 per TEU for shipments to Kansai and leveling off at to $227 per TEU for shipments to Kanto.


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