SCFI rises 4.9%

Although the Shanghai Containerized Freight Index rose on trades from Shanghai to North Europe to the Mediterranean, it declined on routes to the United States.    The Shanghai Shipping Exchange’s Shanghai Containerized Freight Index rose 4.9 percent from last Friday’s reading of 853.43 to a reading of 894.86.
   Although rates increased from Shanghai to North Europe and the Mediterranean, rates fell on routes to the United States.
   Since last week, rates from Shanghai to North Europe fell 4.5 percent, from $977 per TEU to $933 per TEU, while rates from Shanghai to the Mediterranean slipped 2.6 percent, from $945 per TEU to $920 per TEU.
   Meanwhile, rates from Shanghai to the U.S. West Coast surged 11.8 percent since last week, from $1,264 per FEU to $1,413 per FEU, while rates from Shanghai to the U.S. East Coast rose 8.9 percent, from $2,229 per FEU to $2,428 per FEU.