News
The composite Shanghai Containerized Freight Index (SCFI) stood at 1,979.12 points in Week 9, down 6.2% from the previous week, according to the Shanghai Shipping Exchange (SSE). Despite weaker demand, container exports from China increased on most trade lanes thanks to a recovery in capacity supply after the Lunar New Year holidays.
On east-west routes, spot rates for container exports from Shanghai were down 9.2% to $2,277 per TEU to Europe, 5% to $3,292 per TEU to the Mediterranean, 9.1% to $4,262 per FEU to the U.S. West Coast and 6.1% to $5,747 per TEU to the U.S. East Coast.
On north-south trade lanes, ex-Shanghai rates were stable to the Middle East Gulf and South America, increasing 0.8% to $1,715 per TEU and remaining unchanged at $2,625 per TEU, respectively. In contrast, they fell 6.6% to $1,133 per TEU to Australia and New Zealand, 2% to $1,874 per TEU to southern Africa and 3.6% to $2,310 per TEU to eastern and western Africa.
In the intra-Asia waters, spot rates for ex-Shanghai container exports levelled off at $289 per TEU to Kansai, Japan and $302 per TEU to Kanto, Japan. But they shrank 4% to $285 per TEU to Southeast Asia and 1.3% to $153 per TEU to South Korea.
The SCFI is an indicator for spot rates for container exports from Shanghai that do not include terminal handling charges (THCs), which was set at a baseline of 1,000 points on Oct. 16, 2009.
