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.
