News
China's export container shipping market improved last week by rebounded cargo volume and rate hikes implemented by carriers. As a result, the Shanghai (Export) Containerized Freight Index (SCFI) issued by the Shanghai Shipping Exchange (SSE) was quoted at 782.12 points, up by 8.0% from the previous week.
In the Europe route, the supply-demand conditions remained favorable last week and spot rates from Shanghai to Europe rose 5.0% from a week earlier to $780 per TEU while those from Shanghai to Europe also climbed 4.2% to $740 per TEU reflecting the increase in transport demand.
In the North America routes, as cargo owners expedited their shipment amid rising trade tensions between the U.S. and China, cargo volumes rebounded to a certain extent from the previous week.
Spot rates in the trade route from Shanghai to the U.S. West Coast surged by 13.8% to $1,471 per FEU but the Shanghai - U.S. East Coast rates remained unchanged at $2,541.
