Spot container rates out of Shanghai weakened marginally last week, continuing a pattern in which rates will show gains around the dates of a general rate increase only to erode in subsequent weeks. Last week’s erosion in the Shanghai Containerized Freight Index or SCFI is “in anticipation of low demand expected during the … upcoming Chinese New Year festivities,” ICAP said.
Container rates edged downward but overall were stable this week, showing that gains earlier in the month based on scheduled rate increases are holding, but tenuously.
Trans-Pacific spot rates ticked upward late this week in advance of a planned $600 per 40-foot container rate increase to West Coast ports (and $800 to other destinations) set to take effect on Jan. 15.
Spot U.S. intermodal rates showed broad weakness this week especially in East-West lanes. An index of heavily trafficked domestic intermodal lanes dropped from $2,324 for a '53 foot all-inclusive door-to-door move to $2,085. An index of West-to-East rates fell from $2,872 to $2,518, according to spot rate data provided by IDS.