SCFI declines for second straight week

Since last week alone, the index has fallen 4.1 percent to a reading of 825.10, with rates declining from Shanghai to Northwest Europe, the Mediterranean and the United States.    The Shanghai Shipping Exchange’s Shanghai Containerized Freight Index (SCFI) has fallen for the second straight week on Friday.
   The index is an estimate of spot rates from Shanghai to 15 regions throughout the world and is created by panelists from liner companies, and shippers and freight forwarders.
   Since last week, the overall index fell 4.1 percent, from a reading of 860.48 to a reading of 825.10.
   Rates on the Shanghai to Northwest Europe trade fell 4.8 percent since last Friday, from $913 per TEU to $869 per TEU. From Shanghai to the Mediterranean, rates slipped 1.4 percent, from $738 per TEU to $728 per TEU.
   Meanwhile, rates from Shanghai to the U.S. West Coast tumbled 9.1 percent since last Friday, from $1,990 per FEU to $1,809 per FEU, while rates from Shanghai to the U.S. East Coast dropped 4.4 percent, from $2,793 per FEU to $2,671 per FEU.