Spot container rates inch up on major trades

Spot container rates increased on trades from Shanghai to the United States, Europe and the Mediterranean since last week, according to the Shanghai Shipping Exchange’s Shanghai Containerized Freight Index (SCFI).    The Shanghai Shipping Exchange’s Shanghai Containerized Freight Index (SCFI) ticked up 1.5 percent since last Friday’s reading of 806.81 to a reading of 818.73, as rates on major trades from Shanghai to Europe, the Mediterranean and the United States all experienced modest increases.
   Since last week, spot rates from Shanghai to Europe rose 4.7 percent, from $744 per TEU to $779 per TEU, while spot rates from Shanghai to the Mediterranean rose 3.1 percent, from $640 per TEU to $660 per TEU.
   Meanwhile, spot rates from Shanghai to the U.S. West Coast rose 2.4 percent since last week, from $1,512 per FEU to $1,548 per FEU, while rates from Shanghai to the U.S. East Coast inched up 0.7 percent, from $2,075 per FEU to $2,089 per FEU.