Shanghai Containerized Freight Index (SCFI) has reaches record high

The Shanghai Containerized Freight Index (SCFI) has reached a record high of 2,979.76 points last week with average freight rates on the spot market nearly breaching a new historical benchmark of $5,000 per FEU between Shanghai and the US West Coast.

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Meanwhile, spot rates in the Shanghai – North Europe trade increased to an average of $8,650 per FEU, only $250 less below the record seen in early January. Freight rates on the Asia – North Europe route started soaring again in April after the Suez Canal incident.

The blockade delayed many ships by one or two weeks, forcing carriers to blank sailings in both directions which reduced their possibilities to reposition badly needed empty containers.

Source: Alphaliner