News
The Shanghai Containerized Freight Index (SCFI) hiked 0.7% to 4,225.86 points in Week 31, the Shanghai Shipping Exchange (SSE) has unveiled. Increased from the previous week for the 13th time in a row, the index reached an all-time high again.
Spot rates for containerized exports from Shanghai to Europe stood at $7,418 per TEU, up 0.3%, registering growth for four consecutive weeks. Meanwhile, those for containers to the Mediterranean rose 0.7% to $7,042 per TEU, which was an improvement for 19 straight weeks.
On the trade route to North America, container carriers from Shanghai were all fully loaded to both the east and west coasts, leading to stabilizing freight rates. Exports to the east coast were carried at a rate of $10,167 per FEU, up 1%, hiking for 18 weeks running. Those to the west coast were, meanwhile, moved at $5,555 per FEU, up 0.7%, which swelled for the sixth consecutive week.
