SCFI continues to rise for second consecutive week amid North American rate increase

Spot rates for container exports from Shanghai to North America on an uptrend, despite lingering pressure on shipping capacity due to labor management issues at onshore ports west of Canada and draft limitations in the Panama Canal.

Spot rates from Shanghai to Europe fell 2.9% to $947/TEU, but increased 1.7% to $1,529/TEU on the route to the Mediterranean, up 3% to $2,002/FEU on the inbound route west coast of North America and increased 3% to $3,013 per FEU to the east coast of North America.

Spot rates for goods exported by containers from Shanghai to Australia and New Zealand fell 7% to $340/TEU.

By contrast, spot rates from Shanghai to South Africa fell 0.8% to $1,323/TEU, down 2.5% to $2,572/TEU on the route to East and West Africa, and down 3.6% to $809/TEU on the Middle East Gulf and down 2.5% to $2,451/TEU on the South American route.

Spot rates from Shanghai increased 2.6% to $615/TEU for the route to Korea in intra-Asian waters. Rates are at $143/TEU for the route to Southeast Asia, $326 for the route to Kansai, Japan, and $334 for the route to Kanto, Japan.

See more:

• Sea-Intelligence: Blank sailings on trans-Pacific route increased sharply
• International shipping and logistics market update - Week 32/2023

Source: Phaata.com (According to Shanghai Shipping Exchange, ContainerNews)

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