Shanghai Containerized Freight Index (SCFI)

SCFI crumbles to 30-month low, nears pre-pandemic levels

The Shanghai Containerized Freight Index (SCFI) took a 2% tumble to settle at US$1,031.42, its lowest-ever quote since July 2020, settling just a tad higher than the three-year historical low of US$1,022 recorded in January 2020.

While there is a talk of normalisation on the cards, with rates nearing the pre-pandemic levels, the advent of the Chinese New Year will most likely see the index hitting the pre-pandemic mark as the demand scenario is negative with inbound volume into the US recording...

https://container-news.com/scfi-crumbles-to-30-month-low-nears-pre-pandemic-levels/

Box rates could deteriorate to pre-Covid levels in December

Further slides in the Shanghai Containerized Freight Index (SCFI) are continuing, and it is expected that in December, freight levels will be at pre-pandemic levels.

On 18 November, SCFI stood at 1,307 points, plunging 74% from an all-time high of 5,110 points on 7 January, and bringing the index near the 1,000 points seen in January 2020, just before the Covid-19 crisis erupted.

Shanghai-North Europe freight rates, having peaked at US$15,600/TEU on 14 January, dived to US$2,350/TEU on 18...

https://container-news.com/box-rates-could-deteriorate-to-pre-covid-levels-in-december/

Box rates slip further on indices for 33rd consecutive week

The streak of red for ocean freight continues, with both the Drewry’s World Container Index (WCI) and the Shanghai Containerized Freight Index (SCFI), losing about 5.7-6% this week. While the WCI shaved off 6% to end at US$3,483, the SCFI which didn’t register a quote, the previous week, over the Chinese Golden Week, lost about 5.7% to end at US$1,814.

As rates fall for the 33rd consecutive week, with the extent of falls dictated by the East-West trades, of Asia-Europe and Asia-US, Ocean...

https://container-news.com/box-rates-slip-further-on-indices-for-33rd-consecutive-week/

KOBC develops container trade freight index on sea routes from Korea

South Korean ship finance institution Korea Ocean Business Corporation (KOBC) is piloting a container freight index to provide a guideline on the costs of moving goods from Busan, the country’s main container port.
Planning for the KOBC Container Composite Index (KCCI) began back in July 2020, when freight rates began ascending rapidly because of Covid-19-related logistical bottlenecks.
KOBC said: “As a result of analysing data accumulated for more than a year, meaningful …

The post KOBC...

https://theloadstar.com/kobc-develops-container-trade-freight-index-on-sea-routes-from-korea/

Major freight indexes hit new record-highs on the last day of the year

Two major freight indexes, SCFI and NCFI, reached record-high figures on the last day of the previous year, which was marked by skyrocketing container freight rates.

The Shanghai Containerized Freight Index (SCFI) has surpassed the US$5,000/TEU mark for the first time in history on 31 December of 2021.

The index, which reflects the ocean freight surcharges of individual shipping routes from Shanghai, launched in October 2009 and on the last day of 2021 reported a record-high US$5,046.66/TEU.

SCFI’s...

https://container-news.com/major-freight-indexes-hit-new-record-highs-on-the-last-day-of-the-year/

Freight rates continue global upward trend

Freight rates continue to rise globally due to several factors, such as the container shortage and the economic pull of the United States, according to the Port Authority of Valencia (PAV).

In particular, the high demand for maritime transport in combination with the lack of empty containers, the shortage of capacity and equipment, the price of fuels, the problems of co-determination, the traffic increase and the congestion in several ports of the world, are the main factors for this continued...

https://container-news.com/freight-rates-continue-global-upward-trend/

SCFI crosses the US$4,000/TEU mark for the first time in history

The Shanghai Containerized Freight Index (SCFI) has exceeded the US$4,000/TEU point for the first time in history on 16 July, reaching 4,054.42 points, marking a 3.1% increase from the previous week and a week-on-week increase for the 10th week in a row.

SCFI, provided by Shanghai Shipping Exchange (SSE), has achieved several records in 2021, while in May it crossed the US$3,000/TEU milestone for the first time, and in the last week, the index marked its new all-time high.

Additionally, SSE has...

https://container-news.com/scfi-crosses-the-us4000-teu-mark-for-the-first-time-in-history/

Carriers Gone Too Far With Prices As Rates Soar

According to a LoadStar report written by Mike Wackett, there are signs that spot rates from Asia to Europe might be beginning to cool at last.

  • Today’s Shanghai Containerized Freight Index (SCFI) comprehensive index inched up just half a percentage point this week to 2,885, which is 190% higher than a year ago.
  • The North Europe component eased back slightly, by $39, to $4,413 per teu, after putting on $650 in the previous two weeks.
  • Spot rates from Asia to the Mediterranean remained virtually...

https://mfame.guru/carriers-gone-too-far-with-prices-as-rates-soar/

Freight Rates Shoot Up Due to Rush in Exports

  • Ocean freight rates are up as much as threefold on year, and the firmness of pricing could remain and help Korea’s shippers for the rest of 2021.
  • The Shanghai Containerized Freight Index (SCFI) averaged 999.3 in January 2020. It is now about 2,870 points.
  • Since Oct. 9, the figure has been climbing every week on resumption of manufacturing in China.
  • Demand for ship transportation usually surges ahead of the Lunar New Year holiday.
  • This is attributed to tendency of exporters transporting...

https://mfame.guru/freight-rates-shoot-up-due-to-rush-in-exports/

SCFI reaches its highest point

Dynaliners reports that the Shanghai Containterized Freight Index (SCFI) reached its highest value since the index began reporting in 2009.

The index reached 1,664.56 on 6 November after gaining 134.57 points in a single week, reaching some 83.38 points higher than its previous high point in 2010.

According to Dynaliners, the index was hovering at around 1,000 points at the start of this year.

The SCFI distinguishes the following regions for its calculations: Europe, Mediterranean, US West Coast,...

https://container-news.com/scfi-reaches-its-highest-point/

+ More