SCFI falls 4%

Container freight rates from Shanghai to the U.S. West Coast declined 8.5 percent since last Friday to $1,310 per forty-foot container, according to the latest data from Shanghai Shipping Exchange’s Shanghai Containerized Freight Index (SCFI).    The Shanghai Shipping Exchange’s Shanghai Containerized Freight Index (SCFI) fell 4 percent from last Friday’s reading of 865.03 to a reading of 830.80.
   The SCFI includes spot rate estimates from Shanghai to 15 regions around the world.
   Since last week, rates from Shanghai to Europe fell 3.9 percent, from $961 per TEU to $924 per TEU, while rates from Shanghai to the Mediterranean declined 3.7 percent, from $949 per TEU to $914 per TEU.
   Rates from Shanghai to the U.S. West Coast fell 8.5 percent since last week, from $1,432 per FEU to $1,310 per FEU, while rates from Shanghai to the U.S. East Coast declined 5.5 percent, from $2,432 per FEU to $2,298 per FEU.