SCFI ends year on high note

The Shanghai Containerized Freight Index stood at a reading of 951.66 on Dec. 30, increasing 15.5 percent from a week prior.    The Shanghai Shipping Exchange’s Shanghai Containerized Freight Index (SCFI) ended the year with a reading of 951.66 on Dec. 30, 15.5 percent higher than a week prior.
   Rates from Shanghai to Europe rose 11.3 percent, from $1,049 per TEU to $1,168 per TEU, while rates from Shanghai to the Mediterranean rose 12.8 percent, from $963 per TEU to $1,086 per TEU.
   Meanwhile, rates from Shanghai to the U.S. West Coast surged 24.8 percent, from $1,541 per FEU to $1,923 per FEU, while rates from Shanghai to the US. East Coast rose 18.6 percent, from $2,613 per FEU to $3,100 per FEU.
   The SCFI’s overall reading was also higher than at the end of 2015, which closed out the year with a reading of 836.96.