News
The composite Shanghai Containerized Freight Index (SCFI) stood at 1,031 points in Week 33, which decreased 1.2% from the previous week and registered its first week-on-week decline in four weeks, according to the Shanghai Shipping Exchange (SSE).
Looking at spot rates for container exports from Shanghai on individual trade lanes, they went down 8% to $852 per TEU to Europe and down 0.5% to $1,500 per TEU to the Mediterranean. To the U.S., they improved 0.7% to $2,003 per TEU to the West Coast but picked up 1.3% to $3,110 per FEU to the East Coast.
On north-south routes, ex-Shanghai spot rates grew 4.1% to $453 per TEU to Australia and New Zealand and 5.4% to $908 per TEU to the Middle East Gulf. On the other hand, they fell 3.7% to $1,328 per TEU to southern Africa, 1.3% to $2,501 per TEU to eastern and western Africa and 6.5% to $2,285 per TEU to South America.
In intra-Asia waters, container exports from Shanghai were moved at $313 per TEU to Kansai, Japan, down 1.9%, and $313 per TEU to Kanto, Japan, down 4.2%. Spot rates from Shanghai, in contrast, improved 2.9% to $144 per TEU to Southeast Asia and leveled off at $157 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 a baseline of 1,000 points on Oct. 16, 2009.
