News
The composite index for spot rates for container exports from Shanghai, or the Shanghai Containerized Freight Index (SCFI), fell 2.1% from the previous week to 4,818.47 points in Week 8, remaining on the decline for six weeks in a row, the Shanghai Shipping Exchange (SSE) has said.
On the trade route to Europe, transport demand stayed at high levels for various consumer goods that included products for preventing COVID-19 infections. Container freighters from the Chinese port registered an average load factor of some 95%. Spot rates for shipments destined to Europe was $7,519 per TEU, down 1.7%, decline for five straight weeks. Rates for those to the Mediterranean sank 1% to $7,339 per TEU.
The U.S. transport system remained inefficient. On the route to North America, as such, spot rates decreased 0.1% to $10,844 per FEU for containers to the east coast and 0.6% to $8,066 per FEU for those to the west coast.
