News
The Shanghai Containerized Freight Index (SCFI) continued uptrend last week, with its comprehensive index ticking up another 4.0% or 54.53 points to 1409.57.
Container spot rates on the trade from Shanghai to Europe moved ahead modestly last week, with North Europe up 2.7% to $1,082 per TEU, and for Mediterranean ports up 6.5% to $1,188 per TEU.
On the Transpacific trade, amid a collusive behavior warning from the Federal Maritime Commission (FMC) several carriers have pushed ahead with deploying extra-loader vessels as import demand outpaces vessel supply. The SCFI component for the U.S. west coast edged up 1.4% to hit a new record for the trade lane of $3,867 per 40ft, a staggering 189% above the same week of the previous year. For the U.S. east coast, the rates registered a further 2.2% rise to $4,634 per 40ft, double the rate of a year earlier.
As the peak season has set in on the trade to the Middle East Gulf, freight rates to the region surged 12.4% to $1,079 per TEU. Those to Australia and New Zealand achieved a modest 3.3% increase to $1,358 per TEU.
To South America, demand for medical products and daily necessities boosted transportation demand, lifting spot rates by a substantial 25.7% to $3,646 per TEU.
Freight rates for shipments destined to Japan were relatively stable. Those to Kansai and Kanto both remained unchanged at $232 per TEU and $238 per TEU, respectively.
