News
Freight rates for container exports from China remained weak on almost all trade lanes in Week 46. The composite Shanghai Containerized Freight Index (SCFI), an indicator for spot rates for container exports from Shanghai that do not include terminal handling charges (THCs), fell 9.5% from the previous week to 1,306.45 points, which have stayed on the decline for 22 weeks in a row. It was a two-year low since going down to 1,203.06 points on Aug. 28, 2020.
Spot rates for containers to the west coast of North America waned 4.5% to $1,559 per FEU, which have remained on a downward trend for 26 weeks running. Rates for those to the east coast, meanwhile, have trended down for 25 consecutive weeks. The former fell below its average of $1,960 per FEU in April-June 2020, but the latter was still higher than its average of $2,819 per FEU in the same three months, thanks to steady container movement and port congestion.
