Issue link: https://jocdigital.uberflip.com/i/1095037
42 The Journal of Commerce | April 1 2019 www.joc.com JOC By the Numbers SCFI - Shanghai Containerized Freight Index Shanghai export average spot rates for the following four trade lanes are among the 15 component trade lanes in the weekly SCFI — Shanghai Containerized Freight Index produced by the Shanghai Shipping Exchange and weigh 57.5 percent of the SCFI comprehensive reading. INCHES DOWN: The SCFI fell 24.82 points or 3.2 percent from the prior week, decreasing to 742.1 points for the week ending March 15, 2019. The index is 168.7 points or 11.8 percent below year-end 2018. Source: IHS Markit ©2017 IHS Markit Comprehensive SCFI* INDEX RISES YEAR OVER YEAR: The March 15, 2019, SCFI comprehensive reading was 742.1 points, which is 66.64 points or 9.9 percent above the same week last year. This index was 257.9 points or 25.8 percent below the Oct. 16, 2009, base of 1,000 points. To US WEST COAST base ports* FALLS FOR SEVENTH WEEK: The March 15, 2019, US West Coast base port average spot rate was $1,345 per FEU, $86 or 6 percent below the previous week. The rate is up $329 or 32.4 percent year over year, and is $538 or 28.6 percent below year-end 2018. This March 15 index was $86 or 6 percent above its Oct. 16, 2009, base rate of $1,431 per FEU. To US EAST COAST base ports* DOWN SEVEN WEEKS IN A ROW: The March 15, 2019, East Coast base port average spot rate was $2,357 per FEU, $122 or 4.9 percent below the previous week. This week's rate is a year-over-year increase of $348 or 17.3 percent. The March 15, 2019 index is down $641 per FEU or 21.4 percent from year-end 2018, and $82 or 3.4 percent above its Oct. 16, 2009, base rate of $2,439 per FEU. To NORTH EUROPE base ports* CONTINUES TO SLIDE: The March 15, 2019, North Europe base port average spot rate was $714 per TEU, down $40 or 5.3 percent from the prior week, as the rate fell $27 or 3.6 percent year over year. The March 15, 2019, level is down $282 or 28.3 percent from year-end 2018, and is down $518 or 42 percent from its Oct. 16, 2009, base rate of $1,232 per TEU. To MEDITERRANEAN base ports* DROPS: The March 15, 2019, Mediterranean base port average spot rate was $748 per TEU, down $28 or 3.6 percent from the prior week. The Mediterranean rate is up $83 or 12.4 percent year over year and down $219 or 22.6 percent from year-end 2018. The March 15, 2019, level tumbled $513 or 41.5 percent below its Oct. 16, 2009, base rate of $1,279 per TEU. *Indices were not published on the following dates: 2010: Feb. 19, April 30, Sept. 24, Oct. 1 or Oct. 8. • 2011: Feb. 4 or Oct. 7. • 2012: Jan. 27 or Oct. 5. • 2013: Feb. 15 or Oct. 4. • 2014: Oct. 3. • 2015: Feb. 20 or Oct. 2. • 2016: Feb. 12, Oct. 7. Base ports defined: US West Coast — Los Angeles/Long Beach/Oakland; US East Coast — New York/Savannah/Norfolk/Charleston; Europe — Hamburg/Antwerp/Felixstowe/Le Havre; Mediterranean Sea — Barcelona Valencia/Genoa/ Naples. The freight rate includes ocean freight and surcharges including BAF/FAF, EBS/EBA, CAF/YAS, PSS, WRS, PCS, SCS/SCF/PTF/PCC. • *Low Sulphur Surcharge (LSS) was included from end of year 2014. Source: Shanghai Shipping Exchange, en.sse.net.cn/indices/scfinew.jsp © 2019 IHS Markit High: $2,067 2/26/10 Base: $1,279 10/16/09 Low: $195 10/16/15 and 3/18/16 High: $2,164 3/5/10 Base: $1,232 10/16/09 Low: $205 6/19/15 and 3/18/16 High: $5,049 2/13/15 Base: $2,439 10/16/09 Low: $1,448 12/25/15 High: $2,833 7/2/10 Base: $1,431 10/16/09 Low: $725 4/22/16 High: 1,583 7/2/10 Base: 1,000 10/16/09 Low: 400 3/18/16 $0 $500 $1,000 $1,500 $2,000 $2,500 1/1/2010 3/15/2019 $0 $500 $1,000 $1,500 $2,000 $2,500 1/1/2010 3/15/2019 1/1/2010 3/15/2019 $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 1/1/2010 3/15/2019 $500 $1,000 $1,500 $2,000 $2,500 $3,000 1/1/2010 3/15/2019 300 600 900 1,200 1,500 1,800