SCFI declines 3%

The Shanghai Shipping Exchange’s Shanghai Containerized Freight Index fell from a reading of 472.07 last week to a reading of 457.70.    The Shanghai Shipping Exchange’s Shanghai Containerized Freight Index (SCFI) dipped 3 percent from last week’s reading of 472.07 to a reading of 457.70.
   On the Shanghai to Northwest Europe trade, rates remained flat at $271 per TEU. Meanwhile, rates from Shanghai to the Mediterranean fell 2.9 percent since last week, from $409 per TEU to $397 per TEU.
   However, several major ocean carriers plan to increase rates from Asia to North Europe and the Mediterranean May 1.
   From Shanghai to the U.S. West Coast, rates fell 5.8 percent since last week, from $770 per forty-foot container (FEU) to $725 per FEU, while rates from Shanghai to the U.S. East Coast fell 3 percent, from $1,648 per FEU to $1,599 per FEU.