Global Shipping Rates Break 3500 Points... Decline Trend Continues

[Image source=Yonhap News]

[Asia Economy Reporter Yoo Hyun-seok] Container shipping freight rates have continuously declined, falling below the 3500 mark.

According to the shipping industry on the 21st, the Shanghai Containerized Freight Index (SCFI), a global shipping freight indicator, recorded 3429.83 points as of the 19th, down 132.84 points from the previous week.

The SCFI, which surpassed the 5100 mark for the first time in January, has since continuously declined. It rebounded from May 20 to June 10 but has fallen again for 10 consecutive weeks, marking the lowest level in 1 year and 3 months since May 14 of last year.

Specifically, freight rates dropped on seven routes including the South America route. The Europe route fell by $183 per 1 TEU to $4788 compared to the previous week. The Mediterranean route recorded $5483, down $150. Along with this, the Middle East route dropped $141 to $2231. The Australia-New Zealand route also decreased by $49 to $2853, and the South America route fell by $249 to $8965.

The West Coast of the Americas route freight rate fell by $371 to $5782 per 1 FEU (12-meter container). The East Coast route dropped by $114 to $8992.

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