News
Spot rates for container exports from the Chinese port of Shanghai increased on major trade routes in Week 48, the Shanghai Shipping Exchange (SSE) has announced. On the route to the west coast of North America, in particular, spot rates exceeded the $7,000-per-FEU line for the first time to reach the highest-ever point. On the trade to Southeast Asia, meanwhile, rates crossed the 1,200-per-TEU mark and also reached an all-time high.
For containers destined to the east coast of North America, rates rose by $196 (1.8%) to $10,623 per FEU, hiking from the previous term for two back-to-back weeks. For those to the west coast, freights picked up by $289 (4.2%) to a record-high $7,019 per FEU.
On the route to Europe, spot rates freed themselves from a downward trend, improving by $38 (0.5%) to $7,587 per TEU. On the trade to the Mediterranean, fares hiked minutely by $17 (0.2%) to $7,251 per TEU.
Exports to Southeast Asia were moved at a record $1,266 per TEU, which surged by $142 (12.6%). In contrast, spot rates were stagnant for shipments to Japan, going down by $18 (5.7%) to $300 per TEU for those to Kansai and $7 (2.3%) to $298 per TEU for those to Kanto.
