News
The composite Shanghai Containerized Freight Index (SCFI) closed at 983.41 points in Week 19, down 1.5% from the previous week, according to the Shanghai Shipping Exchange (SSE).
Spot rates for container exports from Shanghai went up a minute 0.4% to $1,624 per TEU to the Mediterranean. In contrast, they were down 0.7% to $870 per TEU to Europe, down 4.9% to $1,385 per FEU to the west coast of North America and down 1% to $2,381 per FEU to the east coast of North America.
On north-south trades, there were increases of 1.3% to $1,955 per TEU to South America, 2.3% to $2,744 per TEU to eastern and western Africa, 2% to $1,324 per TEU to the Middle East Gulf and 3.2% to $225 per TEU to Australia and New Zealand. Spot rates from Shanghai, on the other hand, fell 7.3% to $1,350 per TEU to southern Africa.
In intra-Asia waters, spot rates for shipments from Shanghai decreased 1% to $321 per TEU to Japan’s Kansai and 1% to $329 per TEU to Kanto. There were declines of 3.9% to $173 per TEU to Southeast Asia and 15.3% to $144 per TEU to South Korea.
The SCFI, an indicator for ex-Shanghai container export spot rates that do not include terminal handling charges (THCs), was set at 1,000 points on Oct. 16, 2009.
