Sharp rise in Asia-to-Europe box rates, softness in U.S.

Markets

Monday, March 18, 2013

The Shanghai Container Freight Index (SCFI) for exports from China jumped sharply last week. The overall SCFI rose 13.1 percent to 1,231.31, while the index for cargo moving to Europe was up a whopping 42.4 percent to 1,423 and to the Mediterranean, 42.3 percent to 1,366. ACM/GFI’s Container weekly newsletter said the increase “reflected an increase in spot freight rates of $424/TEU" last Friday, "following recent announcements that carriers had intended...

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