Container rates decline for sixth consecutive week

For the entire 2021, freight rates soared vigorously due to massive demand after the first lockdowns of the corona crisis, but rates have been falling since June 10 this year.

Photo: PR / Evergreen

Spot prices on container freight from Shanghai to the rest of the world have decreased for the sixth week in a row, according to data from the Shanghai Shipping Exchange.

The Shanghai Containerized Freight Index (SCFI), which measures spot prices on container freight from the major Chinese city to a range of destinations around the world, declined by 1.9% to 3,996.77 during the week, which ended on Friday.

Throughout all of last year, freight rates soared vigorously after the first lockdowns of the Covid-19 pandemic and various supply chain issues – a development that continued into the first week of January, where the SCFI set another record.

After that, the index declined for 17 consecutive weeks to 4,147.83 in the week ending on May 13. Thereafter, the index increased for four weeks in a row, to 4,233.1 in the week approaching June 10.

English edit: Kristoffer Grønbæk

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