Container rates decline after two weeks of advance
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
Related articles:
Cargo volumes across the Pacific hit six-month high
For subscribers
Major carriers focus on widely different routes
For subscribers
.jpg&w=384&q=75)
