The Shanghai Containerized Freight Index’s increases on the Shanghai to U.S. trades were partially offset by declines on the Shanghai to Europe/Mediterranean trades.
Shanghai to the U.S. East Coast rates jumped 14.7 percent since last week
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The Shanghai Shipping Exchange’s Shanghai Containerized Freight Index (SCFI) ticked up 2.3 percent from last Friday’s reading of 968.40 to a reading of 990.24, fueled by increases on the Shanghai to U.S. trades, which were partially offset by declines on the Shanghai to Europe/Mediterranean trades.
Since last week, rates from Shanghai to Europe fell 2.7 percent, from $1,116 per TEU to $1,086 per TEU, while rates from Shanghai to the Mediterranean slipped 1.3 percent, from $1,042 per TEU to $1,028 per TEU.
However, rates from Shanghai to the U.S. West Coast increased 6.2 percent, from $2,082 per FEU to $2,211 per FEU. Rates from Shanghai to the U.S. East Coast jumped 14.7 percent, from $3,133 per FEU to $3,594 per FEU.