News
Demand for exporting containerized shipments from China continued to grow in Week 35(?) in the midst of the peak season. The Shanghai Containerized Freight Index (SCFI) rose 4.6% from the previous week to 1,320.8 points, according to the Shanghai Shipping Exchange (SSE).
On the trans-Pacific trade, shipping lines imposed another round of rate hikes on Sept. 1, taking advantage of massive demand. Consequently, freight rates for shipments destined to the U.S. West Coast picked up 3.3% ($119) from a week earlier to a record-high $3,758 per FEU. From the beginning of the year, they skyrocketed 129%, and from a year earlier, 140%. Those for containers to the East Coast moved favorably, too, climbing 7.9% ($330) from the previous week to 4,538 per FEU. From the corresponding week of 2019, they surged 72%.
Rates for Europe-bound containers, meanwhile, improved 2% to $1,042 per TEU; for Mediterranean-bound containers, 2% to $1,082 per TEU; for Middle East Gulf-bound containers, 8.6% to $909 per TEU; and for Australia- and New Zealand-bound containers, 3.1% to $1,250 per TEU. Those for shipments to South America registered a double-digit inflation of 18.4% to $2,223 per TEU.
Rates for containers to Japan remained unchanged again at $231 per TEU to Kansai and $238 per TEU to Kanto.
