SCFI rises 5.6%

The Shanghai Containerized Freight Index rose 5.6 percent since last Friday, fueled by the strong increases from Shanghai to Northwest Europe and the Mediterranean.    The Shanghai Shipping Exchanges Shanghai Containerized Freight Index rose 5.6 percent since last Friday’s reading of 521.60 to a reading of 550.64.
   Rates on the Shanghai to Northwest Europe and Shanghai to Mediterranean trades, which combined, hold a 30 percent weight on the overall SCFI, soared since last Friday.
   On the Shanghai to Northwest Europe trade, rates rose 25.9 percent since last week, from $540 per TEU to $680 per TEU. The Shanghai to Mediterranean trade saw rates jump 17.6 percent since last week, from $660 per TEU to $776 per TEU.
   On the flip side, rates from Shanghai to both the U.S. West Coast and U.S East Coast slipped since last Friday. On the Shanghai to U.S. West Coast trade, rates fell 2.2 percent, from $770 per FEU to $753 per FEU, while on the Shanghai to U.S. East Coast trade, rates dropped 2.1 percent, from $1,528 per FEU to $1,496 per FEU.