News
Spot rates for container exports from the Chinese port of Shanghai slightly decreased for the third week in a row on the Europe trade in Week 34, according to the Shanghai Shipping Exchange (SSE). On the other hand, rates remained on an upward trend for those bound for North America, it added.
For shipments destined to Europe, rates fell 0.4% to $7,365 per TEU, but for those to the Mediterranean, rates hiked 0.6% to $7,125 per TEU, a rise from the previous week for the 22nd term.
In the U.S., where the coronavirus situation has become deteriorated again, demand stayed powerful for various consumer goods. Also, port congestion and declines in container turnover rates continued to cause trouble to shipping companies. As a result, rates for containers to the East Coast exceeded the 11,000-per-FEU line to reach $11,138 per FEU, up 2.4%, growing for the 21st consecutive week. Meanwhile, those for exports to the West Coast improved 0.4% to $5,949 per FEU, rising for nine weeks running.
