Container rates decline for 25th consecutive week

The SCFI’s decrease of 4.8 percent during the week is, however, a reduced decline compared to the previous four weeks.
Photo: Pr / Cosco Shipping
Photo: Pr / Cosco Shipping
Af Marketwire

Spot prices on global container freight continue their downward trajectory, falling for the 25th week in a row.

This week, the Shanghai Containerized Freight Index (SCFI), which measures spot prices on box freight from Shanghai to a number of destinations around the world, dropped by 4.8 percent to 1,171.36.

The index has thereby been heading down consistently since mid-June and is currently at the lowest level since Aug. 14, 2020.

With this week’s decline, the SCFI is now 75.2 percent lower compared to the same time last year.

The fall of 4.8 percent this week is more modest compared to the 6-10-percent declines of the preceding four weeks.

English edit: Kristoffer Grønbæk

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