FREIGHT rates from Shanghai to the US rose last week for the first time in almost two months as the Shanghai Containerised Freight Index (SCFI) also saw its first increase in five weeks, rising six points to 1030.85, representing a 0.5 per cent week-on-week hike.
Shanghai to US west coast rates rose by 1.2 per cent to US$1,652 per FEU, while rates to the US east coast rose by 2.6 per cent to $3,113 per FEU.
In addition to what appears to be improving revenues on the US trades, carriers are also now beginning to enjoy a reduction in bunker costs after falling US$25 per FEU to the west coast and $55 per FEU to the east coast last week, according to ship broker ACM Shipping.
But Asia-Europe rates fell again last week by 2.8 per cent to $821 per TEU, including the bunker surcharge.
Rates also fell on the Shanghai to Mediterranean route, as rates reached $949 per TEU, down 0.4 per cent from last week.