SCFI falls for sixth straight week

The Shanghai Containerized Freight Index fell 3.5 percent just since last Friday, as rates from Shanghai to Europe, the Mediterranean and the United States all recorded weekly declines.    The Shanghai Shipping Exchange’s Shanghai Containerized Freight Index declined 3.5 percent from last Friday’s reading of 801.95 to a reading of 774.27.
   The overall index has fallen each week since the July 28 reading of 925.45.
   Since last Friday, rates from Shanghai to Europe tumbled 8.4 percent, from $886 per TEU to $812 per TEU, while rates from Shanghai to the Mediterranean fell 4.2 percent, from $791 per TEU to $758 per TEU.
   Meanwhile, rates from Shanghai to the U.S. West Coast slipped 1.5 percent since last week, from $1,495 per FEU to $1,473 per FEU, while rates from Shanghai to the U.S. East Coast fell 2.1 percent, from $2,280 per FEU to $2,231 per FEU.