News
The composite index for container exports from the Chinese port of Shanghai fell 0.8% from the previous week to 4,228.65 points in Week 15. Although it remained on the decline for the 13th week in a row, its shrinkage was smaller than earlier weeks.
Spot rates went down 1.2% to $6,086 per TEU on the route to Europe, which continued to decrease for 12 straight weeks. On the route to the Mediterranean, meanwhile, rates sank 0.5% to $6,738 per TEU.
Demand was stable on the North America trade. Freight rates, therefore, improved 0.6% to $10,649 per FEU for containers destined to the east coast, rising mildly for two consecutive weeks. Rate stayed flat at $7,860 per FEU for those to the west coast.
Containers bound for the Middle East Gulf were transported at $2,471 per TEU, down 3.6%, while rates for exports to Australia and New Zealand amounted to $3,514 per TEU, down 3%. As COVID-19 still had a devastating impact in South America, those for shipments to the region remained on a downward trend, falling 1.8% to $6,528 per TEU.
Demand was steady on the route to Japan as well, helping spot rates climb 2% to $346 per TEU for containers to Kansai and 1.8% to $335 per TEU for those to Kanto.