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Container exports from China slowed in Week 27. The composite Shanghai Containerized Freight Index (SCFI), which is for spot rate for containerized shipments from Shanghai that do not terminal handling charges (THCs), fell 1.4% from the previous week to 4,143.87 points, staying on the decline for four weeks running, according to the Shanghai Shipping Exchange (SSE).

Container rates continued to slide on the route to North America, as transport demand was weaker due to infrastructure problems and inventory increases. Those for containers destined to the west coast went down 3% to $7,116 per FEU, remaining on a downward trend for eight weeks in a row. Rates for shipments to the east coast waned 0.8% to $9,602 per FEU, remaining bearish for seven consecutive weeks.

On the route to Europe, spot rates continued to sink for the sixth straight week at $5,697 per TEU, which dropped 0.6% from Week 26, while rates for those bound for the Mediterranean declined 1% to $6,355 per TEU.

In contrast, South America was the only route to see a hike in spot rates, where they improved 6.8% to $8,954 per TEU. On other north-south routes, however, freight rates were not brisk, decreasing 4.7% to $3,309 per TEU for containers to the Middle East Gulf and 0.3% to $3,309 per TEU for those to Australia and New Zealand.


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