News
The composite index for spot rates for container exports from the Chinese port of Shanghai reached 4,647.6 points in Week 40, up 0.7% from the previous week, the Shanghai Shipping Exchange (SSE) has unveiled.
Demand was stable for container carriage on the route to Europe, raising spot rates 2.3% to $7,714 per TEU. Those for containers to the Mediterranean, meanwhile, remained nearly unchanged at $7,748 per TEU.
Market conditions did not change much on the trade to North America, although it was impacted to some degree by an extensive power shortage and the National Day holidays in China. Freight rates moved in two different directions. Those for exports to the east coast fell 1.2% to $11,114 per FEU, but those for containers to the west coast hiked 0.8% to $6,371 per FEU.
Spot rates almost stayed flat on the trade to the Middle East Gulf, Australia and New Zealand, and South America, which fluctuated from $3,862 per TEU to $3,859 per TEU, from $4,405 per TEU to $4,418 per TEU; and from $10,222 per TEU to $10,226 per TEU, respectively.
