News
The Shanghai Containerized Freight Index (SCFI) for Week 30 fell 1.3% to 1,022.03 points from the previous week, the Shanghai Shipping Exchange (SSE) announced on July 24.
From China to Europe, demand for moving containers was stable, but freight rates remained on a downward trend, decreasing 1.2% to $896 per TEU. Those to the Mediterranean decreased 0.3% to $937 per TEU.
Transport demand was stable on the trade route to North America as well, although there were signs that the COVID-19 pandemic was escalating in the U.S. As spot rates were hovering at historically high levels, adjustments were made, lowering freight rates to the east coast by 1.9% to $3,269 per FEU and to the west coast, by 3.2% to $2,704 per FEU.
The supply-demand balance improved on the trade to the Middle East Gulf, which raised fright rates to the region by 4.1% to $703 per TEU. As container movement was brisk to Australia and New Zealand, those to the economies flew 1% to $1,079 per TEU. Freight rates to South America surged 9.6% to $548 per TEU, because demand was stimulated for daily necessities and medical products resulting from a sharp rise in the number of COVID-19 infected patients in Brazil.
Demand was basically stable for transporting containerized shipments to Japan, meaning that freight rates fluctuated quietly. Those to Kansai and Kanto both remained unchanged from a week earlier at $229 per TEU and $239 per TEU, respectively.
