The ACM/GFI Group cited steep declines in the index for the four large components of the Shanghai Container Freight Index (SCFI) “as the industry is still grappling with the hangover post Chinese New Year.”
It said the SCFI fell 4.2 percent to 1117.04. The Europe route was down 7.9 percent to 1104, while the Mediterranean route fell 10 percent to 1033; the U.S. West Coast route declined 3.3 percent to 2287; and the U.S. East Coast route dropped 2 percent to 3447.
Spot rates fall on major East-West routes
