News
The Shanghai Containerized Freight Index (SCFI), the index for spot rates for container exports from the Chinese port, fell 2% from the previous week to 4,348.71 points in Week 13, remaining on a downward trend for 11 weeks in a row.
For exports to Europe, spot rates sank 2.5% to $6,425 per TEU, which trended down for 10 straight weeks. Those for containers to the Mediterranean declined 1.2% to $6,839 per TEU.
On the route to North America, rates for shipments destined to the east coast went down 1% to $10,395 per FEU, continuing to sag from a week earlier for the seventh consecutive term. Meanwhile, those for exports to the west coast waned 0.6% to $7,916 per FEU, staying on the decrease for four weeks running. Shipping companies have withdrawn plans for hiking freight rates in April and shown readiness to maintain existing standards, making spot rates only fluctuate minutely.
