News
The composite Shanghai Containerized Freight Index (SCFI), an indicator for ex-Shanghai container export spot rates that do not include terminal handling charges (THCs), fell 3.6% from the previous week to 997.73 points in Week 17, according to the Shanghai Shipping Exchange (SSE). The composite index turned downward after staying on a favorable trend for four weeks as demand for container exports from China did not recover as powerfully as expected. However, it has improved 8.22% since early April. On the trade routes to the east and west coasts of North America, in particular, there have been notable improvements of 20.3% and 26.7%, respectively.
The composite SCFI fell below the 1,000-point line in Week 17 as spot rates for containers to the east coast of North America slid 3.64% ($92) to $2,418 per FEU. Rage plunged more severely on the trade to west coast, going down 11.02% ($180) to $1,453 per FEU.
On the route to Europe, spot rates from Shanghai sank a minute 0.23% ($2) to $881 per TEU but improved 0.25% ($4) to $1,609 per TEU on that to the Mediterranean, becoming the only east-west lane to enjoy a rate increase.
