Being faced with the global novel coronavirus (COVID-19) pandemic, governments are promoting economic recovery, leading to growth in cargo transport demand. The Shanghai Shipping Exchange recently unveiled that the Shanghai Containerized Freight Index (SCFI) for Week 32(?) improved 5.5% from the previous week to 1,167.91 points.

Spot freight rates on the trade route to Europe rose 0.7% to $916 per TEU, and those on the route to the Mediterranean hiked 2.9% to $967 per TEU.

Demand remained massive for moving containers to the U.S. despite escalations in the COVID-19 pandemic. They were transported to the east coast of North America at a rate of $3,913 per FEU, up 11.7%, and to the west coast, at $3,406 per FEU, up 8.3%.

Freight rates to the Middle East Gulf fell 0.4% to $780 per TEU, but those to Australia and New Zealand hiked mildly, going up 0.4% to $1,098 per TEU.

There was a notable increase in those to South America, which surged 35.9% to $1,309 per TEU, due to steep rises in demand for daily necessities and medical products.

Freight rate fluctuations were minute on the trade to Japan. Shipments were carried to Kansai at $231 per TEU, and Kanto at $238 per TEU, both of which levelled off from a week earlier.




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