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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...