News
The Shanghai Containerized Freight Index (SCFI) hit an all-time high of 1664.56 last week, up 8.8% from the previous week. The index is the highest since records began in October 2009. Similarly, it has almost doubled since the last week of May when the index fell to 836.64.
In Week 45, the SCFI for rates on the trade from China to both North Europe and the Mediterranean rose 2.7% from the previous week to $1,246 per TEU and $1,365 per TEU, respectively.
Meanwhile, the transpacific trade saw modest increases of 0.7% to $3,871 per FEU for U.S. west coast ports and 0.5% to $4,665 for U.S. east coast ports, respectively.
Higher spot rates have been widespread in other trade lanes. Rates to the Middle East climbed by 12.5% to $1,222 per TEU; Australia and New Zealand by 5.9% to $2,243 per TEU; South America by 0.5% to $4,110 per TEU; and Southeast Asia by 87% to $475 per TEU.
Freight rates for shipments destined to Japan are also on the rise. Rates to Kansai swelled 3.4% to $244 per TEU and rates to Kanto gained 4.1% to $250 per TEU.
