Shanghai container index up on all routes, but Asia-Europe

CONTAINER shipping rates have increased on three of the four main trade routes last week, according to the Shanghai Containerised Freight Index (SCFI).


Only Shanghai-to-Europe rates fell to US$919 per TEU, compared with $925 the previous week while Shanghai-Mediterranean prices were up $1 per TEU to $914.


Although rates on the Asia-Europe trade were down last week, the rate of decline has slowed from the level registered at the end of April.


The SCFI notes that all-in spot rates on services from Shanghai to the US west coast increased US$111 per FEU last week, against $1,843 the week before and all-water routes to the US east coast increased $143 per FEU to $3,209 per FEU.


"We note there is an increasing positive talk beginning to emerge, pointing to the market picking up as we move into Q3," Clarkson Securities container derivatives broker David Barnes told London's International Freighting Weekly.


While Mr Barnes anticipated strong rate increases on US trades last week to continue, "we may see a flatter development there as we move into the peak season."
(Source:http://www.schednet.com)