SCFI

Markets

Further Rise in USWC Spot Rates Set Stage for Mid August GRI

SCFI rates breached the $2,000/feu level to the US West Coast  and $3,000/feu to the East Coast for the first time since October 2022 and December 2022 respectively. Transpacific carriers will further extend their rate gains with the mid August rate increase almost certain to be pushed through successfully with bookings remaining very strong on lower capacity available through August. Capacity availability will pick up in September on both the WC and EC routes, which will test the carriers abi

Markets

Rapid Fall in TP Spot Rate Ahead of Planned GRI

Transpacific rates continued their decline over the past week, with carriers forced to undercut rates on both the West Coast and East Coast as capacity utilization levels are still dropping. There will be some capacity reductions over the coming weeks, with carriers expected to obtain a $200-300/feu rate increase in early July but the sustainability of the rate increase remains in doubt after the failure of the last 4 transpacific GRI attempts. Asia-Europe rates continued to slip despite relat

Markets

Fresh Lows For USWC Rates

Transpacific rates have fallen to fresh lows with rates dropping to $1,100 to $1,150/feu to the West Coast which is below the SCFI assessment of $1,207/feu. Rates to the US East Coast rates took a larger tumble with rates set to drop below $2,000/feu compared to the current SCFI rate of $2,103. The resolution of the ILWU negotiations will put further pressure on transpacific freight rates as the threat of a peak season disruption to cargo flows into the US has been removed and with no pick up c

Markets

Blank Sailings Failed To Hold Spot Rates

The Golden Week holidays in China provided little respite for the sliding freight and charter rates. There was no SCFI publication last week due to the Chinese holidays but SCFIS (SCFI on Settled Rates), another index also from Shanghai Shipping Exchange, was published yesterday (10 Oct) where the SCFIS for Shanghai-USWC has fallen to level last seen in May 2020: 1,384, down 11% from the last print on 26 Sep. The SCFIS for Shanghai-Northern Europe was 3,434, fell 13% since 26 Sep but still a mul

Markets

WK37 SCFI still lags spot market

The SCFI assessment of $3,050/feu to the US West Coast remains higher than latest market rates offered by carriers that have already dropped below $2,500/feu and will soon breach the $2,000/feu level, ensuring further SCFI downward revisions in the coming weeks. USWC rates have collapsed completely, and contract rates have also been annihilated with various carriers already agreeing to revise full year contract rates to match the current spot  market rates in order to protect their volume share

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