News
In the week of Oct. 21, freight rates for exporting containers from China rose across the board as shipping companies took actions to control tonnage. The Shanghai Shipping Exchange (SSE) recently unveiled the Shanghai Containerized Freight Index (SCFI) for the week in question was 847.11 points, up 9.4% from the previous week.
Spot rates for containers from Shanghai to Europe, which do not include terminal handling charges (THCs), stood at $707 per TEU, registering a notable increase of 19%. To the Mediterranean, freight rates grew 3.5% to $735 per TEU.
On the trade route to North America, many carriers went ahead with rate hikes earlier in the month, bringing about a bullish market. Freight rates surged 16.7% to $1,588 per FEU to the west coast, while those to the east coast climbed a milder 8% to $2604 per FEU.
As for rates to other regions, those to the Middle East Gulf, Australia and New Zealand, and South America all increased, going up 5.6% to $830 per TEU, up 2.7% to $1,196 per TEU and up 7.7% to 2,117 per TEU, respectively.
On the route to Japan, freight rates remained unchanged from the previous year at $223 per TEU to Kansai and $235 per TEU to Kanto.
