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The market for container exports from China was bearish in Week 38, as there was no last-minute shipment growth before the National Day Golden Week, which made transport demand remain weak. The composite Shanghai Containerized Freight Index (SCFI), an indicator for spot rates for container exports from Shanghai that do not including terminal handling charges (THCs), plunged 10.4% from the previous week to 2,072.04 points, which have stayed on the decline for 15 weeks in a row. They showed no sign of bottoming out.

On the route to the west coast of North America, spot rates fell 12% to $2,684 per FEU, which have continued to decline for 19 weeks running. Rates slid 8.9% to $6,538 per FEU, which have stayed on a downward trend for 18 consecutive weeks. Spot rates were sluggish on the route to Europe as well, sinking 10.8% to $3,163 per TEU, which have remained bearish for the 17th week in a row. Rates plummeted 14% to $3,249 per TEU on the route to the Mediterranean.


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