SCFI slips 6.1%

Spot container rates from Shanghai to Europe, the Mediterranean and the United States all declined since last Friday, according to the Shanghai Shipping Exchange’s Shanghai Containerized Freight Index (SCFI).    The Shanghai Shipping Exchange’s Shanghai Containerized Freight Index (SCFI) fell 6.1 percent since last Friday’s reading of 782.25 to a reading of 734.15 as rates on major trades from Shanghai to Europe, the Mediterranean and the United States all declined.
   Spot rates from Shanghai to Europe fell 5.4 percent since last week, from $728 per TEU to $689 per TEU, while spot rates from Shanghai to the Mediterranean slipped 3.9 percent, from $619 per TEU to $595 per TEU.
   Meanwhile, spot rates from Shanghai to the U.S. West Coast tumbled 11.5 percent since last week, from $1,411 per FEU to $1,249 per FEU, while spot rates from Shanghai to the U.S. East Coast fell 6.1 percent, from $1,917 per FEU to $1,801 per FEU.