News
The composite Shanghai Containerized Freight Index (SCFI) rose 1% from the previous week to 1,039.32 points in Week 31, which remained on an upward trend for two weeks running, according to the Shanghai Shipping Exchange (SSE). Spot rates for container exports from Shanghai to North America were favorable despite continued pressure on shipping capacity supply due to disruptions caused by the labor-management disputes at ports on the west coast of Canada and the draft restrictions at the Panama Canal.
Ex-Shanghai spot rates fell 2.9% to $947 per TEU on the route to Europe but increased 1.7% to $1,529 per TEU to the Mediterranean, 3% to $2,002 per FEU to the west coast of North America and 3% to $3,013 per FEU to the east coast of North America.
Spot rates for container exports from Shanghai swelled 6.9% to $340 per TEU to the trade to Australia and New Zealand. In contrast, they were sluggish on other north-south trade lanes, going down 0.8% to $1,323 per TEU to southern Africa, 2.5% to $2,572 per TEU to eastern and western Africa, 3.6% to $809 per TEU to the Middle East Gulf and 2.5% to $2,451 per TEU to South America.
In intra-Asia waters, ex-Shanghai spot rates improved 2.6% to $615 per TEU on the route to South Korea. They leveled off at $143 per TEU to Southeast Asia, $326 per TEU to Kansai, Japan and $334 per TEU to Kanto, Japan.
