News
The composite Shanghai Containerized Freight Index (SCFI), an indicator for ex-Shanghai container spot rates that do not include terminal handling charges (THCs), declined a minute 0.1% from the previous week to 998.29 points in Week 18. Shipping capacity increased due to International Workers’ Day holidays and improvements in containership operations.
Spot rates for container exports from Shanghai went down 0.7% to $875 per TEU to Europe, up 0.4% to $1,616 per TEU to the Mediterranean, up 0.4% to $1,456 per FEU to the west coast of North America and down 1% to $2,396 per FEU to the east coast of North America.
On north-south trades, ex-Shanghai spot rates stood at $1,929 per TEU for containers to South America, up 0.8%; $1,457 per TEU to southern Africa, up 0.2%; $2,683 per TEU to eastern and western Africa, up 0.8%; $1,298 per TEU to the Middle East Gulf, nearly unchanged; and $218 per TEU to Australia and New Zealand, down 2.1%.
In the intra-Asia region, spot rates for container exports from Shanghai stayed flat at $324 per TEU to Japan’s Kansai and $332 per TEU to Kanto. They were, on the other hand, sluggish to Southeast Asia, down 0.5% to $180 per TEU, and to South Korea, down 1.7% to $170 per TEU.
