According to the Shanghai Shipping Exchange, the Shanghai Containerized Freight Index (SCFI) stood at 1,574.12 points on January 16, down 4.4% from the previous week, indicating a continued softening trend in the market.
On the Europe route, shipping demand remained stable with vessel utilization close to full capacity at Shanghai Port. Despite this, freight rates edged lower, with the average rate to European base ports falling to USD 1,676 per TEU, a decrease of 2.5% week-on-week. As the holiday approaches, carriers have begun capacity control measures, and early space booking is advised.
The Mediterranean route experienced a sharper decline, with spot booking rates dropping further. Freight rates to Mediterranean ports fell to USD 2,983 per TEU, down 7.7%. Some carriers are offering voyage-specific promotional rates to stimulate demand.
North America routes remained relatively stable. Rates from Shanghai to the U.S. West Coast and East Coast were USD 2,194 per FEU and USD 3,165 per FEU, respectively, with the East Coast showing a modest 1.2% increase.
Meanwhile, freight rates on Persian Gulf, Australia–New Zealand, and South America routes continued to decline amid cautious market sentiment. Industry analysts expect freight rates to fluctuate at low levels before the holiday, making shipment planning and carrier selection increasingly important.