News
The composite Shanghai Containerized Freight Index (SCFI) closed at 953.6 points in Week 26, according to the Shanghai Shipping Exchange (SSE). Rising 3.2% from the previous week, the composite index increased for the first time in four weeks due to double-digit growth in spot rates from Shanghai to North America.
Spot rates for ex-Shanghai container exports fluctuated unfavorably on the routes to Europe and the Mediterranean, going down 3.8% to $763 per TEU and 7.7% to $1,466 per TEU, respectively. On the other hand, they surged 20% to $1,408 per FEU to the west coast of North America and 14.7% to $2,368 per FEU to the east coast.
On north-south trades, spot rates for container exports from Shanghai swelled 4.7% to $2,532 per TEU to South America and stayed flat at $1,226 per TEU to the Middle East Gulf. In contrast, they went down 4.4% to $260 per TEU to Australia and New Zealand, 1.5% to $2,672 per TEU to eastern and western Africa and 1.8% to $1,297 per TEU to southern Africa.
In intra-Asia waters, spot rates for shipments from Shanghai hiked 2.4% to $169 per TEU to Southeast Asia, remained unchanged at $329 per TEU to Kansai, Japan and $327 per TEU to Kanto, Japan, and declined 4.4% to $131 per TEU to South Korea.
The SCFI, an indicator for spot rates for container exports from Shanghai that do not include terminal handling charges (THCs), was set at 1,000 points on Oct. 16, 2009.
