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), picked up 1.1% from the previous week to 983.46 points in Week 21, turning upward after four straight weeks of negative growth, according to the Shanghai Shipping Exchange (SSE).
On east-west trade lanes, spot rates for shipments from Shanghai fell 1.2% on the route to Europe. In contrast, they were favorable on other routes, picking up 1.4% to $1,651 per TEU for those to the Mediterranean, up 5.2% to $1,398 per FEU to the west coast of North America and up 0.4% to $2,374 per FEU to the east coast of North America.
On north-south trades, spot rates improved 1.2% to $1,276 per TEU to the Middle East Gulf, 3.2% to $2,073 per TEU to South America and 1% to $2,787 per TEU to eastern and western Africa. On the other hand, there were declines of 6.5% to $261 per TEU to Australia and New Zealand and 1.7% to $1,393 per TEU to southern Africa.
In intra-Asia waters, spot rates remained unchanged at $321 per TEU to Kansai, Japan; $329 per TEU to Kanto; and $140 per TEU to South Korea, but sank 1.7% to $171 per TEU to Southeast Asia.
