AMZ123 has learned that the latest Shanghai Export Containerized Freight Index (SCFI) released by the Shanghai Shipping Exchange shows the composite index was 3,679.58 points, up 15.47 points from 3,664.11 points in the previous week, a weekly increase of 0.42% and the second consecutive weekly rise.

Route performance diverged significantly, with European and Mediterranean routes relatively strong. The freight rate for a 20-foot container from Shanghai to European base ports was US$2,335/TEU, up about 2.7% week on week, an increase of US$61. The freight rate for a 20-foot container from Shanghai to Mediterranean base ports was US$3,250/TEU, up about 8.3%, or US$248, the largest increase among all routes this week.

Spot rates on U.S. routes pulled back slightly from high levels. The freight rate for a 40-foot container from Shanghai to U.S. West Coast base ports was US$7,525/FEU, down 0.8%, or US$59. The freight rate for a 40-foot container from Shanghai to U.S. East Coast base ports was US$10,405/FEU, down 1.1%, or US$119.

Other routes continued to diverge. Persian Gulf routes rose slightly or remained stable, while South American and Australia-New Zealand routes declined noticeably. The Southeast Asia route freight rate was about US$1,156/TEU, basically unchanged. On the same day, the Shanghai Shipping Exchange adjusted the weightings of some routes and added 40-foot container freight rate indices for European, Mediterranean, and South American routes.

Industry analysis pointed out that the modest rebound in the index was mainly driven by carriers advancing rate increase plans for mid-to-late October, with European and Mediterranean route rates reflecting this expectation ahead of time. However, overall demand in the European market remains weak. Combined with continued delivery of new vessels and the return of some ships to Suez routes, capacity supply is increasing, and the market remains cautious about the subsequent trend of European routes.

Although spot prices on U.S. routes have eased somewhat, previously backlogged cargo has not yet been fully cleared, and port congestion continues to provide support. Freight rates are expected to remain high and volatile before the end of October.

Author ✎ TEN/AMZ123

Seller Home Review

Freight rates have risen for two consecutive weeks, but U.S. route rates have edged down. Sellers should closely monitor Mediterranean and European route increases, prioritize locking in U.S. route space windows, and factor rising Mediterranean route costs into inventory and pricing decisions.

Source: Cross-border logistics news
Original link: https://www.amz123.com/t/4JbgqWLQ