News
The Shanghai Containerized Freight Index (SCFI) for Week 42 rose 0.7% from the previous week to 1,448.87 points, the Shanghai Shipping Exchange (SSE) unveiled recently.
Spot freight rates from Shanghai to Europe, however, fell 5.7% to $1,084 per TEU. Container movement to the Mediterranean was more favorable than that to Europe, improving the supply-demand balance and freight rates, which hiked 3.1% to $1,239 per TEU.
On the U.S. trade, supply and demand was balanced, helping freight rates fluctuate at high levels. Those to the East Coast grew a minute 0.1% to $4,619 per FEU, and those to the West Coast increased slightly as well, going up 0.2% to $3,841 per FEU.
Freight rates for shipments destined to the Middle East Gulf waned 0.9% to $1,055 per FEU(?). In Australia and New Zealand, the COVID-19 rage was subsiding gradually, recovering transport demand. As the peak season had set in, in addition, those to the economies surged 10.5% to $1,821 per TEU.
In South America, in contrast, novel coronavirus infections were escalating, stimulating demand for daily necessities and medical products. Spot rates to the region hiked 0.8% to $3,984 per TEU.
Demand was stable for moving containers to Japan; nevertheless, freight rates to Kansai and Kanto both decreased a mild 0.9% to $230 per TEU and $238 per TEU, respectively.