Global Shipping Freight Rates... Falling for 8 Consecutive Weeks

[Asia Economy Reporter Yoo Hyun-seok] Global container shipping rates have been continuously declining for eight consecutive weeks. They have reached the lowest level since June last year.

According to the shipping industry on the 7th, the Shanghai Containerized Freight Index (SCFI), a global shipping rate indicator, stood at 3739.72 as of the 5th, down 148.13 points from the previous week.

The SCFI surpassed the 5100 mark in January. Since then, it has fallen for 17 consecutive weeks. After rebounding on May 20th for the first time in 18 weeks, it rose until June 10th. However, it has declined again for eight consecutive weeks. As a result, it remained at the lowest level in one year and two months since June 11th last year.

Among the seven routes, six declined. The only route that increased was the South America route, which rose by $92 to $9,531 per 1 TEU.

In contrast, the Europe route dropped by $250 to $5,166. The Mediterranean route was recorded at $5,852, down $119.

The Middle East route fell by $188 to $2,601. Along with this, the Australia-New Zealand route also declined by $9 to $2,988.

The West Coast of the Americas route freight rate was $6,499 per 1 FEU (12-meter container), down $195. The East Coast of the Americas route was recorded at $9,330, down $18.

This content was produced with the assistance of AI translation services.