News
The composite index for spot rates for container exports from the Chinese port of Shanghai reached 5,109.6 points in the first week of 2022, exceeding the 5,000-point line for two back-to-back weeks.
Spot rates for containers destined to Europe and the Mediterranean both remained nearly unchanged from the previous week, only increasing a slight 0.3% to $7,777 per TEU and decreasing a more minute 0.1% to $7,529 per TEU, respectively.
On the route to the U.S., exports to the East Coast were carried at a rate of $11,833 per FEU, up 2.2%, and to the West Coast, at $7,994 per FEU, up 4.1%. Fares were bullish on both of the lanes due to growth in cargo demand before Lunar New Year and weight limitations at ports on the east coast of North America.
On the trade to the Middle East Gulf, spot rates sank 1.8% to $3,790 per TEU, while rates levelled off at $4,691 per TEU on the route to Australia and New Zealand. Those for exports to South America inflated 0.5% to $10,323 per TEU.
On intra-Asia routes, containers to Southeast Asia were transported at $1,537 per TEU, up 3.2%, while rate for exports to South Korea stayed flat at $432 per TEU. As for shipments to Japan, fares waned 9.8% to $304 per TEU for those to Kansai but rose 3% to $276 per TEU for those to Kanto.
