News
The market for container exports from China was mostly stable last week, when freight rates fluctuated at high levels. Unveiled by the Shanghai Shipping Exchange (SSE), the composite index for spot rates for container exports from Shanghai, however, fell a minute 0.3% from the previous week to 5,094.36 points.
Spot rates for containers destined to Europe increased 0.3% to $7,797 per TEU, underpinned by brisk transport demand, remaining on an upward trend for the seventh week in a row. Meanwhile, those for shipments to the Mediterranean almost levelled off, sinking 0.1% to %7,520 per TEU.
The average load factor of container carriers from Shanghai to North America was almost 100%. Spot rates for containers to the east coast, nevertheless, declined 0.9% to $11,729 per FEU, shrinking from a week earlier for the first time in eight weeks. Those for exports to the west coast stayed flat at $7,994 per FEU.
