News
The Shanghai Containerized Freight Index (SCFI) and the China Containerized Freight Index (CCFI) were not announced last week due to the Lunar New Year holidays.
On the trans-Pacific trade, demand has declined as exports from Asia have decreased since the end of the holidays. Spot rates have taken a downward turn after eight to 10 weeks of improvements. It is expected that container movement will continue to wane from late February to early March. As such, spot rates are projected to stay flat for a while.
In the U.S., container throughput steeply increased year on year at Los Angeles and Long Beach in January. From the previous month, however, the ports registered decreases of 0.8% and 0.4%, respectively, as retail sales have been falling since the Christmas and year-end shopping season.
