News
The Shanghai Shipping Exchange (SSE) has unveiled that the Shanghai Containerized Freight Index for Week 28 went down 2% from the previous week to 1,033.58 points.
Spot rates for shipments from Shanghai to Europe that do not include terminal handling charges (THCs) were $920 per TEU, representing a rise of 1.4% from the previous week, but those for containers destined to the Mediterranean fell 2% to $951 per TEU.
On the trade route to the U.S., freight rates dropped from the record highs they marked in the previous week. Those to the west coast waned 4.7% to $2,783 per FEU, and those to the east coast waned as much to $3,297 per FEU.
On the route to the Middle East Gulf, transport demand picked up, raising freight rates 7.2% to $638 per TEU. In contrast, freight rates sank 1.8% to $1,076 per TEU to Australia and New Zealand. On the trade to South America, the number of COVID-19 was increasing steeply in Brazil and other economies in the region, diminishing transport demand. Freight rates, as such, plunged 12% to $541 per TEU.
Demand was fundamentally stable for moving containers to Japan; therefore, freight rates were also stable. Shipments were carried at $229 per TEU to Kansai and $238 per TEU to Kanto, both of which remained unchanged from a week earlier.
