SCFI rises 3.8%

Spot container rates from Shanghai to Europe, the Mediterranean and the United States all increased since last week, according to the Shanghai Shipping Exchange’s Shanghai Containerized Freight Index (SCFI).    The Shanghai Shipping Exchange’s Shanghai Containerized Freight Index ticked up 3.8 percent since last Friday’s reading of 705.19 to a reading of 732.04, as rates from Shanghai to Europe, the Mediterranean and the United States all increased.
   Since last week, spot rates from Shanghai to Europe rose 5 percent, from $694 per TEU to $729 per TEU, while spot rates from Shanghai to the Mediterranean inched up 0.8 percent, from $593 per TEU to $598 per TEU.
   Meanwhile, spot rates from Shanghai to the U.S. West Coast rose 7.3 percent since last week, from $1,097 per FEU to $1,177 per FEU, while spot rates from Shanghai to the U.S. East Coast surged 13.1 percent, from $1,681 per FEU to $1,901 per FEU.