SCFI fell for ten consecutive years, hitting a 15-month low, and the freight rates of the three major routes have not stopped falling | Anue Juheng – Taiwan Stock News

Shanghai Shipping Exchange announced today (19) the latest SCFI composite index (Shanghai Export Container Freight Index), showing a 10-week decline, a continuous drop of 132.84 points from last week to 3429.83 points, a decrease of 3.73%, a slight decrease from last week narrowed, still hitting a new low since mid-May last year, and the three long-haul routes continued to decline.

Among the three major routes, the latest quotation of the US East Route came to US$8,992 per FEU (standard 40-foot container), a weekly drop of US$114, a slight decrease from 2.4% last week to 1.25%, which continued to hit a new low since late June last year. The Western Front continued to fall by as much as $371 to $5,782, extending its decline to 6% from 5.32% last week, and quickly falling to a new low since mid-August last year.

The freight rate per TEU (standard 20-foot container) for the European line came to US$4,788, a further drop of US$183 and a new low since early May last year.

The freight forwarder pointed out that if the Drewry World Freight Index (WCI) is down 3% for the week, however, the freight rate from Shanghai to New York is flat. Whether it is a signal that the downward pressure on freight rates has stabilized remains to be seen Follow-up further observation.

Taihua Chairman Yan Yicai also stated that the peak season of shipping in the third quarter was not prosperous, but the freight rate was still relatively high compared to the past. It is expected that the shipping company will still make money in the next 1-2 years, and it is unlikely that there will be losses.

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