News
In the week of March 9, outbound container movement from China improved gradually thanks to the reopening of operations at manufacturing factories. However, some shipping companies lowered freight rates, decreasing the Shanghai Containerized Freight Index (SCFI) for the week under review by 1.5% to 898.05 points, according to the Shanghai Shipping Exchange (SSE).
On the trade route to Europe, freight movement increased mildly owing to growth in the shipment of some daily necessities. Some operators on the route, nevertheless, imposed slightly lower freight rates. As a consequence, the spot rate for exporting containers from Shanghai fell 3.6% to $797 per TEU. That for containers destined to the Mediterranean declined 1.2% to $892 per TEU.
In North America, more factories went back in service in the week of March 2, recovering transport demand to bring about a notable rise in freight rates. In the following week, however, many lines decreased freight rates mildly. The rates for shipments bound for the east coast sank 4.4% to $2,785 per FEU and to the west coasts, 3.8% to $1,549 per FEU.
More containers were moved to the Middle East Gulf, lifting the fare on the trade by 0.6% to $1,051 per TEU. To Australia/New Zealand, the freight rate diminished more severely, going down 2.3% to $753 per TEU. On the route to South America, operators accepted shipments at lower prices, leading to a decrease in the freight rate of 7% to $1,358 per TEU.
To Japan, transport demand was stable. The freight rates for containers to Kansai and Kanto both remained unchanged at $225 per TEU and $240 per TEU, respectively.
