Container freight rates continue decline
Rates are falling on major trade routes to Europe, U.S., according to the latest figures from the Shanghai Shipping Exchange.Spot rates for moving containerized cargo fell again this week, according to estimates published by the Shanghai Shipping Exchange.
Panelists from liner companies and shipping lines estimate that spot rates to develop the Shanghai Containerized Freight Index.
Components of the SCFI show rates fell on all four of the major routes from China.
From Shanghai to Northwest Europe ports, rates dropped $50 to $349 per TEU, and to the Mediterranean they were down $64 to $476.
To the U.S., the spot rate to the U.S. West Coast was down $27 to $1,596 per FEU (40 foot container) and to the U.S. East Coast down $57 to $3,644.