SCFI surges 9.8 percent

On the Shanghai to Northwest Europe trade, rates increased 8 percent since two weeks ago, from $699 per TEU to $755 per TEU, while on the Shanghai to Mediterranean trade, rates slipped 3.1 percent, from $583 per TEU to $565 per TEU.    The Shanghai Containerized Freight Index (SCFI) rose 9.8 percent since two weeks ago, from a reading of 707.68 to a reading of 776.93.
   No SCFI was published last Friday due to China’s Golden Week holidays.
   On the Shanghai to Northwest Europe trade, rates increased 8 percent since two weeks ago, from $699 per TEU to $755 per TEU, while on the Shanghai to Mediterranean trade, rates slipped 3.1 percent, from $583 per TEU to $565 per TEU.
   Meanwhile, rates from Shanghai to the U.S. West Coast increased 13.5 percent since two weeks ago, from $1,686 per FEU to $1,914 per FEU. Rates from Shanghai to the U.S. East Coast rose 6.1 percent, from $2,416 per FEU to $2,563 per FEU.