News
The composite Shanghai Containerized Freight Index (SCFI) hiked 1.2% to 4,340.2 points in Week 33, marking an increase from the previous week for 15 times in a row, the Shanghai Shipping Exchange (SSE) has unveiled.
Spot rates from the Chinese port to Europe, however, declined a minute 0.1% to $7,398 per TEU. On the route to the Mediterranean, on the other hand, transport demand remained high, raising freight rates by 0.4% to $7,080 per TEU.
As the peak season has set in on the trade to North America, container carriers from Shanghai continued to be fully loaded on average to both the east and west coasts. Spot rates picked up 4.1% to $10,876 per FEU and 3.2% to $5,927 per TEU, respectively.
Demand was massive on other trade lanes as well. Container rates to the Middle East Gulf, Australia and New Zealand, and South America all improved from Week 32, going up 2.1% to $3,720 per TEU, 1.5% to $3,772 per TEU and 0.3% to $9,845 per TEU, respectively.
On the route to Japan, containers were moved at a rate of $275 per TEU to Kansai, up 0.4%, and $278 per TEU to Kanto, up 1.5%.
