News
The Shanghai Containerized Freight Index (SCFI) for Week 5 stood at 2,884.61 points, picking up 0.8% from the previous week.
Spot rates for shipments from Shanghai improved 1.1% to $4,324 per TEU to North Europe but declined 0.1% to $4,332 per TEU to the Mediterranean.
On the trade lane to North America, transport demand was massive with Lunar New Year holidays coming around the corner. Growth in tonnage supply, in contrast, was limited due to declines in the work efficiency of supply chains at west coast ports, sluggishness in the repositioning of empty containers and delays in the schedule of mainline vessels. Although operators tried to maintain their freight rate standards, but in some services, they went down mildly
Transport demand was stable on the Middle East Gulf route as well, but freight rates to the region fell 1.2%. On the other hand, fares increased a slight 0.8% to $2,429 per TEU to Australia and New Zealand. Those to South America, which had continued to rise steeply, decreased 1.3% to $8,340 per TEU.
The China Containerized Freight Index for containers bound for Japan swelled a minute 0.6% to 861.88 points.
