The Shanghai Containerized Freight Index (SCFI) went down 4.8% from the previous week to 797.78 points in the week of Nov. 4, despite the fact that it was already in the middle of the peak season.
The trade route to Europe, a decrease in container movement urged some carriers to accept shipments at lower freight rates. Spot rates from Shanghai fell 2.9% to $708 per TEU. Likewise, those to the Mediterranean declined 2.1% to $706 per TEU.
On the U.S. route, freight movement slowed down due to the...
https://container-news.com/weak-demand-drags-down-spot-rates-china/