The Shanghai Containerised Freight Index surged by 40% on 29 December 2023, as liner operators hiked rates in response to the capacity crunch resulting from Red Sea diversions.
That day, the SCFI closed at 1,760 points, up from 1,255 points the previous week, a jump that has only occurred four times since the global financial crisis in 2009.
Shanghai-North Europe rates jumped 80% to US$2,694/TEU; Shanghai-Mediterranean rates gained 70% to US$3,491/TEU; Shanghai-US West Coast rates grew by nearly...
https://container-news.com/scfi-soars-40-on-growing-cape-detours/