Shanghai Freight Index Rises 0.42% for Second Consecutive Week
The Shanghai Containerized Freight Index rose 0.42% to 3,679.58 in the week of October 16, marking its second weekly gain, as US routes declined while Europe and Mediterranean routes advanced.
The Shanghai Containerized Freight Index (SCFI) rose by 15.47 points or 0.42% to 3,679.58 in the week of October 16, marking its second consecutive weekly gain, according to the Shanghai Shipping Exchange.
The Shanghai to US West Coast route fell 0.78% to $7,525 per 40-foot container, and the Shanghai to East Coast route dropped 1.13% to $10,405.
In contrast, the Shanghai to Europe route rose 2.66% to $3,547, and the Shanghai to Mediterranean route climbed 8.1% to $4,097.
The China Containerized Freight Index (CCFI) recorded 1,922.64 points, up 0.5%.
What do these terms mean?
Shanghai Containerized Freight Index (SCFI): A weekly index published by the Shanghai Shipping Exchange measuring average container transport rates on major ocean routes from Shanghai.
China Containerized Freight Index (CCFI): Another benchmark index that measures container freight rates, used to track price trends alongside the Shanghai index.
40-foot container (FEU): A common unit of measurement in freight pricing, equivalent to a 40-foot container used as a transport rate reference.
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