China-Mediterranean rates lead the way as spot market recovery begins

SPOT rates on all the major trades from China rose last week for the first time this year, with the Mediterranean trade leading the way, rising 5.5 per cent from the previous week to US$1,019 per TEU, according to the latest data from the Shanghai Containerised Freight Index (SCFI).

Rates on the trade have not been this high since early March, when they stood at $1,042 per TEU. Across all trades, the SCFI averaged a gain of 1.4 per cent to 1033.24 points.


Asia-Europe rates also rose for the week, albeit by a more conservative 0.6 per cent to $828 per TEU.


Freight rates to both US east and west coasts recovered, after slipping the previous week.


West coast rates rose 1.4 per cent to $1,589 per FEU, while rates to the east coast rose by 1.6 per cent to $3,131 per FEU, thus erasing the 0.4 per cent slip the week before.