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23.09.06SCFI Turns Upward in Week 35
The composite Shanghai Containerized Freight Index (SCFI) turned upward in Week 35 as spot rates improved on the route to the U.S. due to shipping capacity adjustments, according to the Shanghai Shipping Exchange (SSE). The index picked up 1.96% to 1,033.67 points after declining for two consecutive weeks.
Spot rates for container exports from Shanghai were unfavorable to Europe and the Mediterranean, going down 4.2% to $768 per TEU and 6.3% to $1,364 per TEU, respectively. They were, on the other hand, robust to the U.S., improving 6.5% to $2,163 per FEU to the West Coast and 2.6% to $3,132 per FEU to the East Coast.
