Freight rates for exporting containers from China slid on many routes in the week of Sept. 30 as transport demand was weak in the midst of National Day holidays. The Shanghai Containerized Fright Index (SCFI) stood at 715.97 points, down 1% from the previous week, according to the Shanghai Shipping Exchange (SSE).

The trade to Europe was in the middle of the slack season, while freight movement was even poorer than usual. Freight rates went down 2% to $581 per TEU. Likewise, those to the Mediterranean declined 2.7% to $722 per TEU.

Demand lowered for transport to North America due to a slowdown in the growth of the U.S. economy. Freight rates to the west coast came to $1,313 per FEU, down 1.1%, and to the east coast, $2,335 per FEU, down 0.5%.

Owing to rises in geographical risks, freights to the Middle East Gulf declined 1.3% to $512 per TEU. In contrast, those to Australia and New Zealand improved 15.3% to $1,064 per TEU thanks to seasonal growth in demand and void sailing made by carriers. Freight rates to South America picked up 2.3% to $1,811 per TEU for similar reasons.

Although containers movement to Japan fluctuated stably, freight rates to Kansai fell 4.3% to $232 per TEU and to Kanto, 4.2% to $226 per TEU.

Source: JIFFA