News
Freight rates for container exports from China stayed bearish on major trade lanes in Week 47. The Shanghai Containerized Freight Indexes, which reflect spot rates for containers from Shanghai that do not include terminal handling charges (THCs) unveiled by the Shanghai Shipping Exchange (SSE), decreased for those to most destinations The composite index fell 5.89% from the previous week to 1,229.9 points. It has remained on a downward trend for 23 weeks in a row, but the trend itself is becoming less and less steep.
Spot rates for containers to the west coast of North America amounted to $1,496 per FEU, down 7.2%, which have trended down for 27 consecutive weeks, whole those for exports to the east coast came to $3,687 per FEU, down 4.9%, which have continued to sink for 26 weeks running.
Rates on the route to Europe dipped 6.1% to $1,100 per TEU, which have stayed on the decline for the 25th straight week. Rates were sluggish on the route to the Mediterranean, too, going down 6.4% to $1,842 per TEU.
On north-south trades, transport demand diminished on that to Australia and New Zealand with the holiday season coming around the corner, making spot rates plunge 23.6% to $613 per TEU. On the trade to the Middle East, increases in shipping capacity exercised a downward pressure on rates, which sank 10.3% to $1,250 per TEU. Rates of South America plummeted 11.6% to $2,276 per TEU.
