23.07.12SCFI Returns to Downward Trend

The composite Shanghai Containerized Freight Index (SCFI) closed at 931.73 points in Week 27, which decreased 2.3% from the previous week to return to a downward trend as spot rates slid on most trade routes, the Shanghai Shipping Exchange (SSE) announced on Monday.

On east-west routes, spot rates for container exports from Shanghai fell 3% to $740 per TEU on the route to Europe, 3% to $1,413 per TEU to the Mediterranean and 0.3% to $1,404 per FEU to the west coast of North America. To the east coast of North America, spot rates remained unchanged at $2,368 per FEU.

On north-south trades, ex-Shanghai spot rates improved 3.5% to $2,616 per TEU to South America. In contrast, there were decreases of 6.5% to $1,146 per TEU to the Middle East Gulf, 0.3% to $1,291 per TEU to southern Africa and 0.5% to $2,663 per TEU to eastern and western Africa.

In intra-Asia waters, spot rates from Shanghai picked up 2.4% to $335 per TEU to Kanto, Japan, stayed flat at $131 per TEU to South Korea and fell 9.5% to $153 per TEU to Southeast Asia.