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The composite index for container exports from the Chinese port of Shanghai declined 1.8% from the previous week to 4,540.31 points in Week 11. It was negatively impacted by lockdowns imposed in major cities to prevent the spread of coronavirus infections.

Spot rates for containers to the east coast of North America remained unchanged at $10,634 per FEU. Those for exports to the west coast, meanwhile, dipped 1% to $8,023 per FEU, as transport demand did not return to normal as quickly as expected after the Lunar New Year holidays.

On the route to Europe, spot rates fell 3.2% to $6,797 per TEU, impacted by the ongoing crisis in Ukraine and lockdowns in major municipalities in China. It was the first time in eight months since July 2021 that they had fallen below the $7,000-per-TEU line. Spot rates declined slightly on the route to the Mediterranean as well, going down 0.5% to $7,035 per TEU.


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