News
The composite Shanghai Containerized Freight Index (SCFI) returned to a downward trend in Week 29, declining 1.3% from the previous week to 966.45 points, according to the Shanghai Shipping Exchange (SSE).
Spot rates for container exports from Shanghai took a downward turn from a double-digit improvement in Week 28 on the route to the west coast of North America, falling 0.4% to $1,764 per FEU. In contrast, they picked up 0.5% to $2,376 per FEU to the east coast. Spot rates increased 0.5% to $742 per TEU to Europe but decreased a minute 0.4% to $1,497 per TEU to the Mediterranean.
Ex-Shanghai spot rates rose 3.6% to $257 per TEU to Australia and New Zealand and 2.4% to $2,729 per TEU to eastern and western Africa. On the other hand, they were sluggish on the trades to the Middle East Gulf, South America and southern Africa, sliding 7.4% to $938 per TEU, 3.2% to $2,580 per TEU and 0.8% to $1,293 per TEU, respectively.
In Asia, container exports from Shanghai were transported at $149 per TEU to Southeast Asia, down 4.5%, at $326 per TEU to Kansai, Japan, down 0.3% and at $334 per TEU to Kanto, Japan, down 0.3%. Spot rates to South Korea stayed flat again at $131 per TEU.
