News
The composite Shanghai Containerized Freight Index (SCFI) closed at 1,347.84 points in Week 17, down 1.7% from the previous week. Spot rates for container exports from Shanghai declined to Europe and on the north-south lanes, despite small improvements in rates on the U.S. trade.
On the east-west trades, spot rates for exports from Shanghai decreased 4.1% to $1,260 per TEU to Europe and 1.5% to $2,129 per TEU to the Mediterranean. To the U.S., in contrast, rates picked up 1.5% to $2,141 per FEU to the West Coast and 0.2% to $3,257 per FEU to the East Coast.
Ex-Shanghai spot rates slid across the board on the north-south routes, going down 4% to $855 per TEU to Australia and New Zealand, 8.3% to $1,161 per TEU to the Middle East Gulf, 10.1% to $1,414 per TEU to South America, 2.7% to $3,749 per TEU to East and West Africa and 1.6% to $2,043 per TEU to Southern Africa.
In the intra-Asia waters, spot rates for container from Shanghai picked up 0.9% to $454 per TEU to Southeast Asia but stayed flat at $146 per TEU to South Korea, $316 per TEU to Kansai, Japan and $321 per TEU to Kanto, Japan.
The SCFI represents 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.
