News
Freight rates for exporting containers from China declined, as pre-Chinese Lunar New Year shipments had reached a peak, and, as a result, transport demand shrank in most of the trade routes. The Shanghai Containerized Freight Index (SCFI) for the week ended Friday, September 20 further eased by 4.1% from the previous week to 734.09 points, according to the Shanghai Shipping Exchange (SSE).
Spot rates for containers moving from Shanghai to Europe fell 5.2% to US$639 per TEU from the previous week while on the Mediterranean trade the freight rate also dropped 3.5% to $797 per TEU.
On the routes from Shanghai to North America, spot rates decreased 7.5% to $1,338 per FEU to the U.S. West Coast and 6.6% to $2,351 per FEU to the U.S. East Coast.