Following many weeks of decline, container rates on routes out of Shanghai now increase for the third consecutive week.
Spot prices on container freight from Shanghai to the rest of the world increased this week for the third week in a row, according to data provided by the Shanghai Shipping Exchange.
The data were made public Thursday already due to this Friday’s holiday related to the Dragon Boat Festival in China.
The Shanghai Containerized Freight Index (SCFI), which measures spot prices on container freight from the major Chinese city to a range of destinations the world over, advanced 0.8% to 4,208.01 this week, which ended on Thursday.
Throughout last year, freight rates surged heavily upon massive demand following the first lockdowns of the Covid crisis as well as supply issues brought about by a range of factors.
This development continued into the first week of January, when the SCFI once again set a record. Then came a 17-week decline.
At this week’s level, the SCFI is still 16.5% higher than at the same time last year.
