Spot container rates fall on major trades

Since last week, spot container rates from Shanghai to Europe, the Mediterranean and the U.S. have all declined, according to the Shanghai Shipping Exchange’s Shanghai Containerized Freight Index (SCFI).    Spot container rates on major trades from Shanghai to Europe, the Mediterranean, and the U.S. West Coast and East Coast have all declined since last week, according to the Shanghai Shipping Exchange’s Shanghai Containerized Freight Index (SCFI).
   Spot rates have been eroding in recent months in general as capacity growth has been outstripping demand growth, yet some carriers have still continued to place orders for larger containerships.
   Since last week, rates from Shanghai to Europe slipped 0.7 percent, from $686 per TEU to $681 per TEU, while rates from Shanghai to the Mediterranean fell 0.9 percent, from $652 per TEU to $646 per TEU.
   Rates from Shanghai to Europe have continuously declined since standing at $923 per TEU on Aug. 25, while rates from Shanghai to the Mediterranean have continuously fallen since totaling $883 per TEU back on July 28.
   Meanwhile, rates from Shanghai to the U.S. West Coast slipped 0.1 percent since last week, from $1,367 per FEU to $1,366 per FEU, while rates from Shanghai to the U.S. East Coast fell 2.6 percent, from $1,801 per FEU to $1,755 per FEU.