SCFI falls 3.9%

Spot container rates from Shanghai to the United States declined since last week, while rates from Shanghai to Europe and the Mediterranean increased slightly, according to the Shanghai Shipping Exchange’s Shanghai Containerized Freight Index (SCFI).    The Shanghai Shipping Exchange’s Shanghai Containerized Freight Index (SCFI) fell 3.9 percent since last Friday’s reading of 732.04 to a reading of 703.67, as slight increases from Shanghai to the Europe and Mediterranean trades were not enough to offset declines from Shanghai to the U.S. trades.
   The SCFI is an estimate of spot rates published each Friday from Shanghai to 15 regions around the world, with the Shanghai to Europe and Mediterranean trades collectively holding a 30 percent weight on the overall index, and trades from Shanghai to the U.S. West Coast and U.S. East Coast collectively holding a 27.5 percent weight on the overall index.
   Since last week, spot rates from Shanghai to Europe rose 3 percent, from $729 per TEU to $751 per TEU, while spot rates from Shanghai to the Mediterranean inched up 0.3 percent, from $598 per TEU to $600 per TEU.
   Meanwhile, spot rates from Shanghai to the U.S. West Coast tumbled 8.4 percent since last week, from $1,177 per FEU to $1,078 per FEU, while spot rates from Shanghai to the U.S. East Coast fell 5.1 percent, from $1,901 per FEU to $1,804 per FEU.