Dec
20

Shanghai Asia-Europe Freight Index Plummets

Posted by Ruaidhri Horan / Tuesday, 20th December 2011 / 0 Comments
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Shanghai Financial CentreThe Shanghai Containerised Freight Index(SCFI), a component of which measures spot container rates from Asia to Europe, plummeted to a 2011 low last week, to $490 for the Asia-Europe component.

On the other side of the Index spot rates to the United States remained relatively stable. Unfortunately economic instability in Europe combined with the advent of larger capacity ships on the Asia-Europe route has resulted in the spot rate plummeting into freefall since August. In fact the SCFI for Asia-Europe id down a dramatic 6.3% since January.

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