Container rates reach lowest level in almost two years

Rate index SCFI declines for the 16th consecutive week and is now 58.3 percent lower than a year ago.

Photo: Xu Congjun/AP/Ritzau Scanpix

Spot prices on global container freight are seeing a regular deroute.

The Shanghai Containerized Freight Index (SCFI), which measures spot prices on box freight from Shanghai to a number of destinations around the globe, has this week fallen by 7.2 percent to 1,922.95.

As such, the index has dived for 16 consecutive weeks, or since mid-June, and is now at the lowest level since Nov. 13, 2020.

And with this week’s decline, the SCFI is now 58.3 percent lower than a year ago.

The 7.2-percent fall this week is, however, a reduction compared to the last four weeks, which have seen declines of around 10 percent every week.

English edit: Kristoffer Grønbæk

Significant box market slowdown in September – freight rates still declining

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