22.9 C
Hamburg
Monday, July 26, 2021
Home Freight News SCFI crosses the US$4,000/TEU mark for the first time in history

SCFI crosses the US$4,000/TEU mark for the first time in history

The Shanghai Containerized Freight Index (SCFI) has exceeded the US$4,000/TEU point for the first time in history on 16 July, reaching 4,054.42 points, marking a 3.1% increase from the previous week and a week-on-week increase for the 10th week in a row.

SCFI, provided by Shanghai Shipping Exchange (SSE), has achieved several records in 2021, while in May it crossed the US$3,000/TEU milestone for the first time, and in the last week, the index marked its new all-time high.

Additionally, SSE has unveiled that the composite China Containerized Freight Index (CCFI) also hit an all-time record, standing at 2,771.54 points in the last week, growing 2.7% from the previous week and registering a week-on-week improvement for the 13th consecutive week.

According to Japan International Freight Forwarders Association (JIFFA), CCFI fluctuations on east-west routes show that indexes for containers destined to the east and west coasts of North America went down 0.7% to 2,170.8 points and 4.3% to 1,840.64 points, respectively. In contrast, the indexes for those to Europe and the Mediterranean climbed 6.1% to 4,702.86 points and 3.1% to 5,341.5 points, respectively.

Furthermore, on north-south trades, the CCFIs picked up 2% to 3,380.75 points for container exports to the Middle East Gulf and the Red Sea, 8.3% to 1,888.69 points for those to Australia and New Zealand, 5.1% to 2,324.31 points for those to South America, 2.2% to 2,546.5 points for those to southern Africa and 10.5% to 2,086.82 points for those to western and eastern Africa.

Last but not least, on intra-Asia trade routes, the CCFI for containers to Japan rose 0.5% to 911.65 points and for those to Southeast Asia, 2.5% to 1,350.7 points, while for those to South Korea, on the other hand, the index sank 2.9% to 884.8 points, according to JIFFA.

Antonis Karamalegkos
Managing Editor

Latest Posts

Chittagong port yards face severe box congestions in lockdown

The ongoing lockdown in Bangladesh has started taking a toll on the shipping sector, especially on port yards, creating severe congestion as importers are...

Port of Sines reports 22.5% volume increase in 2021 first half

The Port of Sines has seen significant growth in total container volumes during the first half of the year, demonstrating a remarkable economic recovery...

Top-5 container line to work with GL Terminal in Indonesia

The Indonesian logistics company, GL Terminal has been appointed by one of the world’s largest shipping lines to provide container depot and trucking services...

DP World and Rosatom ink Arctic shipping partnership deal

The UAE-based global port operator DP World and the Russian state corporation that specialises in nuclear energy Rosatom will work together to develop the...

Yard density and container delays force Antwerp terminal to set cargo opening rule

Port of Antwerp's MSC PSA European Terminal (MPET) has decided to implement a Yard Opening Time (YOT) scheme for all containers delivered at Q1718...