Container rates across main and secondary tradelanes are exploding, with no hope of any easing of the pain for ocean freight shippers in the coming weeks, or possibly even months. Today’s Shanghai Containerized Freight Index (SCFI) comprehensive index value has doubled since May, with several tradelane components recording gains in spot rates...
Container shipping spot rates on the main deepsea east-west trades this week maintained the historic highs seen in recent weeks. Today’s Shanghai Containerised Freight Index demonstrates that carriers continue to hold the upper hand as the annual round of contract negotiations on the Asia-Europe trades looms. The SCFI’s Shanghai-North Europe route ticked up...
Today’s Shanghai Containerized Freight Index (SCFI) shows a further 10.65-point gain in its comprehensive index to 1,448.87 – 71% higher than at the end of May. The huge increase over the past five months, in the midst of the pandemic, has been driven by substantial gains in container spot rates across both...
As China’s Golden Week national holiday comes to an end, container shipping spot rates on the main east-west trades have remained flat. According to today’s Shanghai Containerised Freight Index (SCFI), spot rates on the Shanghai-North Europe trade fell a marginal $19 to $1,149 per teu. On the Shanghai-Mediterranean route, the decline was just...
Despite the start of the traditional slack season – as China’s Golden Week holiday gets underway – there seems no easing of the demand spike from Asia to the US and Europe. And reports to The Loadstar suggest some factories in China are continuing production during the holiday to catch up with...
Having succeeded in aggressively raising container spot rates during the pandemic, ocean carriers are now laying the foundations for a substantial uplift in annual contract rates. Shippers and carriers traditionally start negotiations for the Asia-Europe trade in October and November, and for Asia to the US in February and March. Maersk, for example,...
Container spot rates on the transpacific eased back this week, suggesting the bull run on the trade may be ending. Today’s final publication of the Shanghai Containerized Freight Index (SCFI) before the Chinese Golden Week holiday recorded an $11 decrease for rates to the US west coast, to $3,856 per 40ft, and...
