Spot container rates spike on Shanghai-U.S. trades

Since last week, spot rates from Shanghai to the U.S. West Coast jumped 9.7 percent, while spot rates from Shanghai to the U.S. East Coast increased 9 percent, according to the Shanghai Shipping Exchange’s Shanghai Containerized Freight Index (SCFI).    The Shanghai Shipping Exchange’s Shanghai Containerized Freight Index (SCFI) inched up 3.3 percent since last Friday’s reading of 703.67 to a reading of 727.14.
   Spot rates from Shanghai to Europe jumped 6.7 percent since last week, from $751 per TEU to $801 per TEU, while spot rates from Shanghai to the Mediterranean slipped 0.7 percent, from $600 per TEU to $596 per TEU.
   Meanwhile, spot rates from Shanghai to the U.S. West Coast surged 9.7 percent since last week, from $1,078 per FEU to $1,183 per FEU, while spot rates from Shanghai to the U.S. East Coast increased 9 percent, from $1,804 per FEU to $1,967 per FEU.