News
Supply-demand picture in China's containerized export was mixed depending on trade routes and the Shanghai Shipping Exchange's Shanghai Containerized Freight Index (SCFI) edged down by 0.3% to a reading of 723.93 last Friday,
Spot rates for containers moving from Shanghai to Europe was $743 per TEU, up 2.8% from the previous week bolstered by a stable transport demand while on the Mediterranean trade, the freight rate moved upward by 2.0% to $710 per TEU.
On the route from Shanghai to North America, the reignition of the trade war between the U.S. and China is starting to put significant pressure on the container shipping industry. As a result, spot rates fell by 3.4% to $1,294 per FEU for shipments from Shanghai to the U.S. west coast and by 22% to $2,540 per FEU to the east coast.
One the route between China and Japan, container movement was stable, but the spot rates slid by 0.9% to $231 per TEU for shipments to Kansai and by 1.7% to $227 per TEU for shipments to Kanto.
