SCFI breaks 4,000 mark for the first time
Benchmark liner spot reference, Shanghai Containerised Freight Index (SCFI) has broken the 4,000 mark for the first time in its history.
The SCFI has recorded the most profitable year in history for freight liners, with quadruple its historical average.
The index has broken records most weeks this year, passing the 3,000 point in May, with little sign of slowing down due to extraordinary demand in the US and severe port congestion worldwide.
The Drewry World Container Index (WCI) has also recorded another week of exceptional growth with the average composite index now standing at $5,871 per feu, which is $3,799 higher than the five-year average, and 339% higher than in 2020.
Online international freight marketplace Freightos said: “Demand for ocean freight continues to outstrip supply as peak season heats up, pushing Asia-North Europe rates past the $13k/FEU mark, and sending Europe to South America rates spiking more than 30% since last week as capacity is likely being diverted to ex-Asia lanes…”
