News
Spot rates for container exports from Shanghai continued to rise on almost all routes in Week 21, the Shanghai Shipping Exchange (SSE) announced recently.
On the trade route to Europe, the supply-demand balance remained tight, raising fares to North Europe 4.2% from the previous week to $5,816 per TEU and those to the Mediterranean 5.2% to $5,811 per TEU. In the U.S., coronavirus infections were contained due to an increase in vaccinations, which led to constant growth in imports of consumer goods. Freight rates to the east coast of North America, as a consequence, picked up 1.5% to $7,633 per FEU and to the west coast, a more favorable 9.7% to $4,843 per FEU.
Spot rates rose steadily on north-south trades as well. Containers were moved to the Middle East Gulf at a rate of $2,831 per TEU, up 7%; to Australia and New Zealand at $2,110 per TEU, up 5.1$; and to South America at 8,601 per TEU, up 6.2%.
Demand was stable on the route to Japan, making rates to Kansai improve 3.4% to $305 per TEU and to Kanto, 3.7% to $308 per TEU.
