News
Freight rates for exporting containerized shipments from China improved almost all trade routes in Week 22. The general index for exporting containers from Shanghai, unveiled by the Shanghai Shipping Exchange (SSE), rose 8.6% from the previous week to 920.38 points.
On the route to Europe, freight rates increased 4.4% to $863 per TEU, while those to the Mediterranean hiked 5.1% to $924 per TEU.
On the trade to North America, growth in demand lifted freight rates. Spot rates for shipments destined to the west coast surged 25% to $2,097 per FEU. Those for containers bound for the east coast climbed 7.4% to $2,732 per FEU.
On the trade route to the Middle East Gulf, container movement was dull in the middle of Ramadan. Freight rates, as such, fell 6% to $581 per TEU. In contrast, a recovery in demand picked up those to Australia and New Zealand by 2.3% to $959 per TEU.
On the route to South America, demand strengthened for medical supplies and daily commodities due to the ongoing COVID-19 pandemic, urging shipping companies to impose higher fares. As a consequence, containers were moved to the region at a rate of $1,211 per TEU, which grew a steep 30.2% from a week earlier.
To Japan, shipments were transported at $226 per TEU to Kansai and $238 per TEU to Kanto, which decreased 0.9% and 2.5%, respectively.
