JOC Staff | Dec 20, 2010 3:46PM EST
The Shanghai Containerized Freight Index fell to its lowest level since the start of the year in the week ending Dec. 17, slipping 1.4 percent amid ongoing pricing weakness in a range of global markets.
The index of container shipping out of Shanghai fell to $1,086 per 40-foot equivalent, down 30 percent from the highpoint in mid-summer and the lowest level for the index since it measured at $1,073 the week of Jan. 1, 2010.
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By The Numbers: New Shanghai Containerized Freight Index.
The latest report from the Shanghai Shipping Exchange showed rates falling across all major lanes with diminishing late-season demand for Asia exports.
The Asia-Europe lane, where carriers reportedly have been fighting over market share lately, was the most stable, with the rate index inching downward only $4, or 0.3 percent.
The index for shipments from Shanghai to the U.S. West Coast fell 1.3 percent to $1,832, the 16th straight decline in that trade lane. The SSE’s measure of trade to the U.S. East Coast fell 1.4 percent to $3,038 per FEU.
