SCFI drops 4.5%

Spot container rates from Shanghai to Europe declined 6.5 percent since last Friday, while rates from Shanghai to the Mediterranean fell 6.2 percent, according to the Shanghai Shipping Exchange’s Shanghai Containerized Freight Index.    The Shanghai Shipping Exchange’s Shanghai Containerized Freight Index fell 4.5 percent since last Friday’s reading of 818.73 to a reading of 782.25.
   Spot rates from Shanghai to Europe declined 6.5 percent since last Friday, from $779 per TEU to $728 per TEU, while spot rates from Shanghai to the Mediterranean had fallen 6.2 percent, from $660 per TEU to $619 per TEU.
   Meanwhile, spot rates from Shanghai to the U.S. West Coast tumbled 8.9 percent since last Friday, from $1,548 per FEU to $1,411 per FEU, while rates from Shanghai to the U.S. East Coast fell 8.2 percent, from $2,089 per FEU to $1,917 per FEU.