SCFI surges on major trades

The Shanghai Shipping Exchange’s Shanghai Containerized Freight Index surged 36.7 percent since last week’s reading to a reading of 752.65, with rates on the Shanghai to Northwest Europe trade jumping 77.4 percent to $1,206 per TEU.

   The Shanghai Shipping Exchange’s Shanghai Containerized Freight Index surged 36.7 percent since last week’s reading of 550.64 to a reading of 752.65.
   Since last week, rates on the Shanghai to Northwest Europe trade jumped 77.4 percent, from $680 per TEU to $1,206 per TEU. Rates from Shanghai to the Mediterranean rose 51 percent, from $776 per TEU to $1,172 per TEU.
   Meanwhile, rates from Shanghai to the U.S. West Coast increased 60.6 percent, from $753 per FEU to $1,209 per FEU. Rates from Shanghai to the U.S. East Coast rose 17.5 percent from $1,496 per FEU to $1,758 per FEU.