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Wednesday, February 21, 2024
Home Freight News SCFI rises for second consecutive week as North America rates increase

SCFI rises for second consecutive week as North America rates increase

According to the Shanghai Shipping Exchange (SSE), the Shanghai Containerized Freight Index (SCFI) increased 1% from the previous week to 1,039.32 points, continuing a two-week rising trend.

Spot pricing for container exports from Shanghai to North America was favourable, notwithstanding persistent pressure on shipping capacity supply caused by labour-management issues at ports on Canada's west coast and draft limitations at the Panama Canal.

Ex-Shanghai spot rates declined 2.9% to US$947 per TEU on the route to Europe, but up 1.7% to US$1,529 per TEU to the Mediterranean, 3% to US$2,002 per FEU to North America's west coast, and 3% to US$3,013 per FEU to the east coast.

Spot rates for container exports from Shanghai dropped 7% to US$340 per TEU to Australia and New Zealand.

In contrast, they fell 0.8% to US$1,323 per TEU to southern Africa, 2.5% to US$2,572 per TEU to eastern and western Africa, 3.6% to US$809 per TEU to the Middle East Gulf, and 2.5% to US$2,451 per TEU to South America.

Ex-Shanghai spot rates climbed by 2.6% to US$615 per TEU for the route to South Korea in intra-Asian seas. They settled at US$143 per TEU for Southeast Asia, US$326 for Kansai, Japan, and US$334 for Kanto, Japan.





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