Freight rates out of China continue to plummet

Rates on box freighting from Shanghai decreased by more than 2 percent last week, the fifth consecutive week with rate declines.
Photo: Mike Blake/REUTERS / X00030
Photo: Mike Blake/REUTERS / X00030

Spot prices on global box freighting is decreasing on the Shanghai Containerized Freight Index, which measures container freight spot prices from Shanghai to several destinations around the globe, for the fifth consecutive week in 2023.

During the past two weeks, the SCFI decreased by 2.2 percent to 1,006.89 points.

Normally, the index is calculated weekly, but last week did present new figures due to celebration of Chinese New Year. 

The latest development leaves the index 79.8 percent lower than it was a year ago.

Thursday, Maersk’s B-share increased by 5.3 percent to DKK 16,135 (USD 2,352.15).

English edit: Christian Radich Hoffman

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