News
Freight rates for exporting containerized shipments from Shanghai increased on all routes in Week 20 due to steady demand.
Spot rates were brisk on the trades to both Europe and the Mediterranean, according to the Shanghai Shipping Exchange (SSE), which indicated they hiked 2.6% to $5,579 per TEU and 3.9% to $5,526 per TEU, respectively.
On the North America trade, container fares rose a slight 0.9% to $7,521 per FEU to the east coast and remained nearly unchanged at 4,843 per FEU, up 0.1%, to the west coast.
To the Middle East Gulf, container movement was so massive after Ramadan as to help freight rates to the region register a double-digit improvement of 11.6% to $2,646 per TEU. As for other routes, containers were moved at a rate of $2,007 per TEU to Australia and New Zealand, up 3%, and $8,097 per TEU to South America, up 5.8%. On the trade to Japan, freights went up 3.5% to $295 per TEU to Kansai and 4.2% to $297 per TEU to Kanto.
