SCFI rises 0.3%

The index remained practically unchanged since last Friday, inching up 0.3 percent to a reading of 797.62.    The Shanghai Shipping Exchange’s Shanghai Containerized Freight Index (SCFI) remained practically unchanged since last Friday, reflecting how rate increases on the Shanghai to Northwest Europe and Mediterranean trades offset the declines on the Shanghai to U.S. trades.
   The SCFI is an estimate of spot rates from Shanghai to 15 regions throughout the world. The Shanghai to Northwest Europe and Mediterranean routes combined hold a 30 percent weight on the index, while the Shanghai to U.S. West Coast and East Coast trades combined hold a 27.5 percent weight on the index.
   Since last week, the overall index has increased 0.3 percent, from a reading of 794.98 to a reading of 797.62.
   Rates from Shanghai to Northwest Europe increased 12.5 percent since last week, from $930 per TEU to $1,046 per TEU, while rates from Shanghai to the Mediterranean rose 9.1 percent, from $865 per TEU to $944 per TEU.
   On the Shanghai to U.S. West Coast trade, rates declined 5.1 percent since last week, from $1,456 per FEU to $1,382 per FEU, while on the Shanghai to U.S. East Coast trade, rates slipped 3.1 percent, from $2,414 per FEU to $2,340 per FEU.