The Shanghai Stock Exchange announced today (10) the latest SCFI composite index (Shanghai Export Container Freight Index), showing a 4th consecutive rise to 4233.31 points, up 25.3 points from last week and back to the high point since mid-April. However, The three long-haul routes continued to decline, with the east US route gradually approaching the 10,000 yuan mark, hitting a new low since August last year, and the west US route hitting a new low since late December last year.
Among the three major routes, the FEU (standard 40-foot container) per FEU (standard 40-foot container) fell by US$133 to US$10,098 this week, the lowest since last August, while the US-Western fell to US$7,630, down US$80 for the week.
The freight rate per TEU (standard 20-foot container) for the European line came to US$5,843, a slight decline of US$12 from last week and a new low since June last year.
It is observed that SCFI showed a slight upward trend this week, mainly due to the rising freight rates of Middle East routes and South American routes.
The freight forwarders believe that the SCFI freight index has stopped falling and rebounded since mid-May. In fact, the US commodity consumption is still strong, which helps to stabilize the freight rate and maintain a relatively high level. In particular, the labor negotiations in the United States and the West are currently suspended, and once the strike turns into a strike in July , it is not ruled out that the freight rate will set off another wave of soaring tide.