SCFI declines 4.4 %

Spot rates declined from Shanghai to Europe, the Mediterranean and the United States since last Friday.    The Shanghai Shipping Exchange’s Shanghai Containerized Freight Index (SCFI) fell 4.4 percent since last Friday’s reading of 815.10 to a reading of 778.86.
   The index is an estimate of spot rates from Shanghai to 15 regions around the world, and is created by panelists from liner companies, and shippers and freight forwarders.
   Since last week, rates from Shanghai to Europe declined 4.9 percent, from $921 per TEU to $876 per TEU, while rates from Shanghai to the Mediterranean slipped 3.2 percent, from $882 per TEU to $854 per TEU.
   Meanwhile, rates from Shanghai to the U.S. West Coast tumbled 9.3 percent since last week, from $1,650 per FEU to $1,496 per FEU, while rates from Shanghai to the U.S. East Coast slipped 3.3 percent, from $3,055 per FEU to $2,955 per FEU.