News
The Shanghai Containerized Freight Index (SCFI) for the week of July 29 rose 5.3% from the previous week to 830.94 points, the Shanghai Shipping Exchange (SSE) unveiled on Friday.
On the trade route to Europe, this summer’s busy season has set in, increasing container movement. Spot freight rates from Shanghai, which do not include terminal handling charges (THCs), were $806 per TEU, growing 6.9% from a week earlier. On the Mediterranean route, shipping companies are drastically controlling tonnage, rising the average load factor of ships departing Shanghai. Spot rates, as such, surged 18.4% to $850 per TEUs, making the biggest leap in 2019.
On the trades to the U.S., shippers in several areas rushed to ship containers, as it is difficult to project future developments in the trade negotiations between the U.S. and China. Spot rates to the west coast of North America came to $1,589 per FEU, soaring 10.9%. Those to the east coast, however, remained nearly unchanged at $2,801 per FEU, because some shipping lines accepted shipments at low prices.
On the route to Japan, container movement was stable. Freight rates for services to the Kanto and Kansai regions both remained unchanged from the previous week at $234 per TEU.
