News
The composite index for spot rates for container export rates from the Chinese port of Shanghai in Week 6 fell a minute 0.6% from the previous week to 4,980.93 points, the Shanghai Shipping Exchange (SSE) has announced. Demand for container exports from China remained bullish even after the Lunar New Year holidays, stabilizing most freight rate fluctuations.
Spot rates for containers destined to Europe sank 1.4% to $7,677 per TEU. Rates for those to the Mediterranean declined 1.1% to $7,435 per TEU.
On the route to North America, container carriers from Shanghai were all fully loaded to both the east and west coasts due to congestion and unprocessed containers at major ports in the U.S. Spot rates increased 0.3% to $11,022 per FEU for containers to the east coast and 1.2% to $8,054 per FEU for those to the west coast.
