News
The Shanghai Containerized Freight Index (SCFI), the composite index for spot rates for container exports from the Chinese port of Shanghai, went down 2% from the previous week to 4,263.66 points in Week 14, remaining on a downward trend for the 12th week in a row, the Shanghai Shipping Exchange (SSE) has announced.
Due to congestion at European ports, spot rates decreased 4.2% to $6,157 per TEU on the route to the region, staying on the decline for 11 weeks running. Spot rates fell 1% to $6,773 per TEU for containers destined to the Mediterranean.
On the trade to North America, spot rates improved 1.8% to $10,581 per FEU for exports to the east coast, coming back from eight consecutive weeks of decline. In contrast, rates sank 0.7% to $7,860 per TEU for those to the west coast, waning from the previous week for five straight weeks.
