The Shanghai Containerized Freight Index comprehensive reading for Oct. 26 increased 4.7 percent or $55.34 from the week before, to $1,230.14 per 40-foot-equivalent unit container, the Shanghai Shipping Exchange reported.
The SCFI base port average spot rate to U.S. East Coast ports dropped for the second consecutive week to $3,428 per FEU, down 0.8 percent or $26 from the previous week.
The base port average rate to U.S. West Coast ports also declined for the second consecutive week to $2,476 per FEU, down 1.4 percent or $34 from the week before.
SCFI’s average spot rate for Europe ports rebounded 22.4 percent or $241 to $1,315 per FEU following 11 weeks of decline.
Base spot rates for the Mediterranean took the same path, rebounding 18.3 percent or $197 to $1,273 per FEU after 16 weeks of decline.
The Shanghai Shipping Exchange produces the SCFI comprehensive index weekly, based on 15 component trade lanes.