News
The composite index for spot freight rates for container exports from the Chinese port of Shanghai went down for the third week in a row to 5,010.36 points in the week ended on January 28, the Shanghai Shipping Exchange (SSE) has announced. Freight rates decreased slightly across the board.
On the trade to Europe, demand was strong for daily necessities and pharmaceutical products, as Lunar New Year is just around the corner. Spot rates for containers to the region, nevertheless, remained unchanged at $7,780 per TEU. Rates for those to the Mediterranean also stayed flat at $7,520 per TEU.
Similarly, demand fluctuated at high levels on the route to North America, too, stabilizing the supply-demand balance. However, spot rates for shipments to the east coast fell 3.1% to $10,985 per FEU. Rate for those to the west coast declined 0.2% to $7,976 per FEU.
