SCFI surges 18.6%

Rates from Shanghai to Northwest Europe, which hold a 20 percent weight on the overall index, skyrocketed 57.8 percent since last week, from $713 per TEU to $1,125 per TEU.    The Shanghai Shipping Exchange’s Shanghai Containerized Freight Index (SCFI) jumped 18.6 percent since last week’s reading of 628.59 to a reading of 745.20, as many carriers including Maersk Line, CMA CGM, Hapag-Lloyd and OOCL look to increase rates on the Asia to North Europe and Mediterranean trades Aug. 1.
   Since last week, rates from Shanghai to Northwest Europe skyrocketed 57.8 percent, from $713 per TEU to $1,125 per TEU.
   Meanwhile, rates from Shanghai to the Mediterranean increased 51.2 percent, from $664 per TEU to $1,004 per TEU.
   In addition, rates from Shanghai to the U.S. West Coast inched up 2 percent, from $1,296 per FEU to $1,322 per FEU, while rates from Shanghai to the U.S. East Coast rose 12.3 percent, from $1,744 per FEU to $1,958 per FEU.