News
The Shanghai Containerized Freight Index (SCFI) for Week 35 rose 6.7% from the previous week to 1,263.26 points, which swelled 54% from a year earlier, according to the Shanghai Shipping Exchange (SSE).
Demand for transporting containerized shipments from Shanghai to Europe grew steadily during the week in question, raising freight rates on the trade by 9.8% to $1,029 per TEU. Those to the Mediterranean, meanwhile, improved 6.4% to $1,060 per TEU.
On the trans-Pacific route, transport demand has increased steeply since the beginning of the peak season. Spot rates to the U.S. East Coast exceeded the $4,000 line to reach $4,207 per FEU, which inflated 6.4%, while those to the West Coast hiked 5.8% to $3,639 per FEU.
Demand became stronger on other trades as well, lifting freight rates to the Middle East Gulf by 5.2% to $837 per TEU, and to Australia and New Zealand, 9.6% to $1,213 per TEU. On the route to South America, there was growing demand for medical supplies in the midst of the busy season, raising freight rates by a notable 37.4% to 1,878 per TEU.
Demand fluctuated steadily on the route to Japan, making fares to Kansai and Kanto both remain unchanged from a week earlier at $231 per TEU and $238 per TEU, respectively.
