21.07.14Shanghai-US Spot Rates Hit All-Time Highs Again

Freight rates for exporting containerized shipments from the Chinese port of Shanghai remained bullish in Week 27 due to massive transport demand.

Spot rates for containers destined to Europe came to ¥6,741 per TEU, decreasing a minute 0.7% from the previous week. On the other hand, those for shipments to the Mediterranean reached $6,746 per TEU, up 1.4%, increasing week on week for 15 consecutive weeks.

On the route to North America, container shortages and port congestions kept transport demand at high levels, making most container carriers from Shanghai fully loaded. Consequently, fares for containers to the west coast went up 1.1% to $9,356 per TEU and to the east coast, up 1.6% to exceed the $5,000-per-TEU line at $5,024 per TEU, both of which were new record highs.