Shanghai Containerized Freight Index (SCFI)

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/

Far East-Australia demand pushes rates to levels not seen for a decade

Container freight rates from East Asia to Australia have reached a 10-year high, rising to over US$1,648/TEU as of 9 October 2020, according to the Shanghai Containerized Freight Index.

Container movements along the route have rebounded as Australia seeks to gradually reopen its economy after a series of Covid-19-related lockdowns. Transhipments from Australia and from other regions have also been rising.

This has spurred liner operators, including ZIM and MSC to add more capacity to the route,...

https://container-news.com/far-east-australia-demand-pushes-rates-to-levels-not-seen-for-a-decade/

Container lines on track for US$15bn pandemic windfall

Runaway freight rates in the second and third quarters have had analysts scrambling to re-write doomsayer forecasts published as recently as June to predict what promises to become the industry’s most profitable year on record.

Soaring rates from Asia to the US and signs of recovery on other key trade lanes have pushed Lars Jensen, co-founder of the consulting group, Sea-Intelligence, to re-model his forecast for overall industry profitability for the second time in two months, floating a...

https://container-news.com/container-lines-on-track-for-us15bn-pandemic-windfall/

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