Container rates decline after two weeks of advance

Spot prices on seaborne container freight have dropped drastically since the peak in early 2022.
Photo: Mike Blake/Reuters/Ritzau Scanpix
Photo: Mike Blake/Reuters/Ritzau Scanpix
by MarketWire

Spot prices on container freight fall back below 1,000 points after having advanced for two weeks.

On Friday, the Shanghai Containerized Freight Index (SCFI), which measures spot prices on box freight from Shanghai to a number of global destinations, shows a decline of 4.7 percent to 979.85.

The index thereby continues to stay near a level of 1,000. This year’s bottom level was in March at 906.55, whereas the peak happened in the first week of the year, totaling at 1,061.14.

Rates peaked overall in the first week of 2022 at 5,109.60 after Covid-instigated congestion caused rates to multiply. The elevated rates were ultimately followed by a serious nosedive in last year’s second half.

On a yearly basis, container rates have decreased by 76.9 percent.

English edit: Kristoffer Grønbæk

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