SCFI freight rates on major routes continued to decline for 15 consecutive years, and the US-West line fell below $3,000 | Anue Juheng

The container shipping market has not seen any improvement. The Shanghai Export Container Freight Index (SCFI) published the latest index today (23), down 240.61 points or 10.4% to 2072.04 points, falling for 15 consecutive weeks Rates European route freights all fell by more than 10%, among which the US Western Line freight rate fell below US$3,000.

On the main routes, the FEU (40-foot container) per FEU (40-foot container) in the US West Line decreased by US$366 to US$2,684, a decrease of 12%, and the FEU per FEU in the US East. The line also dropped US$638 to US$6,538, a decrease of 8.9%.

The European line per TEU (20-foot container) fell US$382 to US$3,163, or 10.8%; Mediterranean line TEU fell US$528 to US$3,249, or nearly 14%; the freight rate per TEU in Southeast Asia fell US$17 to 386 The US dollar fell 4.2 percent.

It is understood that the recent container shipping rate has been continuously declining, mainly reflecting the epidemic situation, China’s port closure and control, inflation, and terminal inventory depletion, which has led to weakened demand for space, weaker prices also leaning on long term contracts.

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