SCFI declines 2.1%

Although spot container rates declined from Shanghai to Europe, the Mediterranean and the U.S. East Coast since last Friday, rates from Shanghai to the U.S. West Coast experienced a slight increase, according to the Shanghai Containerized Freight Index.    The Shanghai Shipping Exchange’s Shanghai Containerized Freight Index (SCFI) fell 2.1 percent since last Friday’s reading of 878.27 to a reading of 859.92.
   The SCFI 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, rates from Shanghai to Europe fell 1.4 percent, from $931 per TEU to $918 per TEU, while rates from Shanghai to the Mediterranean declined 2.1 percent, from $849 per TEU to $831 per TEU.
   Meanwhile, rates from Shanghai to the U.S. West Coast ticked up 1.1 percent since last week, from $1,641 per FEU to $1,659 per FEU, however, rates from Shanghai to the U.S. East Coast fell 1.1 percent, from $2,620 per FEU to $2,592 per FEU.