Spot rates for containerized freight from Shanghai are falling after last week’s spot rates showed a positive development.

The Shanghai Containerized Freight Index (SCFI), which measures spot prices for containerized freight from Shanghai to a number of destinations around the world, fell 2.3 percent to 931.73, according to a report on Friday.

The downturn this week follows a 3.2 percent increase last week.

Comparing the rate level this week with the same week last year, spot prices have taken a 77.5 percent plunge.+.

The index peaked in the first week of 2022 at 5109.60, where bottlenecks following the corona pandemic sent the rates soaring.

The index began to fall, especially in the second half of last year, as rates plummeted after a long period of sky-high prices following the coronavirus pandemic.

Spot rates describe freight prices, which - unlike long-term contracts - change continuously, and the index shows the price of a 40-foot equivalent container.

After half an hour of trading on Friday, Maersk’s B-share is down 1.4 percent at DKK 12,170.