News
The Shanghai Containerized Freight Index (SCFI) for Week 4 ended on January 29 declined a minute 0.3% from the previous week to 2,861.69 points.
Container shipping spot rates to Europe fell 2.7% to $4,276 per TEU, while those to the Mediterranean improved 1% to $4,337 per TEU.
In North America, port congestions and subsequent poor container turnovers both remained unsolved. The average load factors of container freighters from Shanghai were almost 100% to both the east and west coasts. Container rates, as such, hovered at high levels.
Fares to the Middle East Gulf decreased 2% to $1,895 per TEU, as some operators imposed lower rates. To Australia and New Zealand, those remained unchanged at $2,409 per TEU. To South America, container movement slowed down, making freight rates go down 3.7% to $8,544 per TEU.
Demand was stable for moving containers to Japan; as a consequence, freight rates stayed almost flat from a week earlier.
