News
Spot rates for exporting containers from the Chinese port of Shanghai mildly increased on most trade routes in Week 30, according to the Shanghai Shipping Exchange (SSE).
On major trade lanes, containers were moved at a rate of $7,395 per TEU to Europe, up 3.8% from the previous week, and $6,961 per TEU to the Mediterranean, up 0.4%.
As the peak shipping season has set in the trans-Pacific route, rates for exports to North America were bullish despite a spike in coronavirus infections in the U.S. Those for containers destined to the east coast of North America exceeded the $10,000 line for the first time, reaching $10,067 per FEU, up 2.2%. Spot rates for exports to the west coast improved a larger 2.4% to $5,518 per FEU.
As for other trades, freight rates grew 2.1% to $3,553 per TEU for containers to the Middle East Gulf, 7.5% to $3,406 per TEU for those to Australia and New Zealand and 2.3% to $9,720 per TEU for those to South America.
Spot rates for containers bound for Japan decreased slightly, although demand was stable. Those for shipments to Kansai fell 1.8% to $277 per TEU and to Kanto, 1.1% to $277 per TEU.
