News
Spot rates for container exports from Shanghai, which do not include terminal handling charges (THCs), improved in Week 22 from the previous week on many trades that exclude some intra-Asia routes.
On the trade to Europe, the supply of container slots remained tight, making fares to the region pick up 1.2% to $5,887 per TEU. Freight rates increased on the route to the Mediterranean, too, which went up 2.4% to $5,952 per TEU.
In the U.S., demand grew further for the replenishment of product stocks among major retailers. On the route to North America, as such, containerships from Shanghai continued to be fully loaded. Consequently, spot rates to the east coast surged 11% to $8,475 per FEU, while those to the west coast hiked notably as well, going up 9.3% to $4,826 per FEU.
Freight rates were stable on the trade to the Middle East Gulf with container freighters from the Chinese port almost fully loaded, raising those to the region by 1% to $2,859 per TEU. Fares were steady on the Australia and New Zealand route, too, which swelled 2.1% to $2,154 per TEU. Transport demand incremented on the route to South America, where spot rates inflated 3.7% to $8,915 per TEU.
On the trade to Japan, the balance remained stable between space supply and demand. Freight rates to Kansai augmented 0.7% to $307 per TEU and to Kanto, 1% to $311 per TEU.
