{"id":101088,"date":"2023-11-02T09:59:25","date_gmt":"2023-11-02T02:59:25","guid":{"rendered":"https:\/\/advantage.vn\/?p=101088"},"modified":"2023-11-06T11:45:43","modified_gmt":"2023-11-06T04:45:43","slug":"scfi-registers-two-digit-jump","status":"publish","type":"post","link":"https:\/\/advantage.vn\/en\/scfi-registers-two-digit-jump\/","title":{"rendered":"SCFI registers two digit jump"},"content":{"rendered":"

The composite Shanghai Containerized Freight Index (SCFI) closed at 1,012.6 points in Week 43, surging 10.3% from the previous week and remaining on an upward trend for the third week in a row, while the index exceeded the 1,000-point line for the first time since early September.<\/strong><\/p>\n

Shipping capacity adjustments by carriers caused more significant space shortages on the trade lanes to North America, South America, Australia and elsewhere.<\/p>\n

On east-west routes, spot rates for container exports from Shanghai to Europe increased 32.4% to US$769 per TEU, 10% to US$1,221 per TEU to the Mediterranean, 9.7% to US$1,916 per FEU to the US West Coast and 7.4% to US$2,361 per FEU to the US East Coast.<\/p>\n

On north-south lanes, ex-Shanghai container spot rates rose 14.4% to US$1,101 per TEU to the Middle East Gulf, 11.4% to US$792 per TEU to Australia and New Zealand, 12.1% to US$2,425 per TEU to South America, 3.3% to US$1,514 per TEU to southern Africa and 5% to US$2,307 per TEU to eastern and western Africa.\"SCFIregisterstwodigitjump<\/p>\n

Within Asia, spot rates for containers from Shanghai fell 0.3% to US$306 per TEU to Kansai, Japan, leveled off at US$319 per TEU to Kanto, Japan, rose 1.1% to US$187 per TEU to Southeast Asia and remained unchanged at US$142 per TEU to South Korea.<\/p>\n

Freight rates are unlikely to plunge next year even if supply and demand continue to be imbalanced, according to Xeneta. The Oslo-based freight rate benchmarking and market analytic platform operator, which projects that demand will grow 2.5% in 2024 in the ocean freight market at a time when supply is expected to grow 6.5%, anticipates that freight rates will remain at ongoing levels and rebound later.<\/p>\n

A total of 236 newbuildings of 1.6 million TEUs were delivered through September, while orders were made for 189 vessels of 1.76 million TEUs.<\/p>\n

Despite poor market conditions, the order backlog is expanding with orders being placed successively for large and eco-friendly vessels. Some expect the ongoing oversupply will be eliminated for the first time in 28 years.<\/p>\n

\"portofshanghai<\/p>\n

On the North American trade, 529,000 TEUs of shipping space was supplied per week in October, down 13.6% year on year. Due to the supply-demand imbalance, shipping capacity adjustments are expected to continue through year-end.<\/p>\n

On the Europe route, space supply has been reduced by nearly 20%, substantially raising freight rates. Large container freighters have been delivered in succession-seven 13,000-TEU units in September and four 24,000-TEU units in October. Weekly space supply increased 4.3% in October.<\/p>\n

container-news.com<\/p>\n

>> Other news:\u00a0<\/strong><\/span><\/p>\n