Freight Rates Continues to Climb
As of July 29, the Drewry composite World Container index climbed $344 or 4% to $9,330.28 per feu. The index rose around $1,000 in June, reaching a feu value of $8,399.09 at the conclusion of the month.
The Shanghai Containerized Freight Index (SCFI) climbed 96.24 points from 4,100 points on July 30th to 4,196 points. The index was at 3905.14 points at the end of June.
The gains to the US East and West Coasts from Asia were emphasized by Drewry. With Shanghai to New York the spot freight charges grew by 13% to $1,562, while with Shanghai to Los Angeles, the rates increased by 6% to $550.