Issue link: https://jocdigital.uberflip.com/i/1263557
42 The Journal of Commerce | July 6 2020 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. INDEX INCREASES: The SCFI rose 12.5 points (1.3 percent) from the prior week, increasing to 1,001 points for the week ending June 24, 2020. The index is up 42 points (4.5 percent) from the end of 2019. Source: IHS Markit ©2017 IHS Markit Comprehensive SCFI* INDEX INCREASES YEAR OVER YEAR: The June 24, 2020, SCFI comprehensive reading was 1,001 points, which is 171 points (20 percent) above the same week last year. The June 24 index reading was 1.3 points (0.1 percent) above the Oct. 16, 2009, base of 1,000 points. To US WEST COAST base ports* SHOOTS UP: The June 24, 2020, US West Coast base port average spot rate was $2,698 per FEU, $23 (0.9 percent) above the previous week. The rate is up $972 (56 percent) year over year and up $1,258 (87 percent) from year-end 2019. The June 24 index reading was $1,261 (88 percent) above its Oct. 16, 2009, base rate of $1,431 per FEU. To US EAST COAST base ports* RISES: The June 24, 2020, East Coast base port average spot rate was $3,003 per FEU, $15 (0.5 percent) above the previous week and $514 (18.4 percent) above the same week last year. The June 24 index reading is up $305 per FEU (10.2 percent) from year-end 2019 and up $864 (35 percent) from its Oct. 16, 2009, base rate of $2,439 per FEU. To NORTH EUROPE base ports* JUMPS: The June 24, 2020, North Europe base port average spot rate was $890 per TEU, up $4 (0.5 percent) from the prior week and up $189 (27 percent) year over year. The June 24 index reading is down $137 (13 percent) from year-end 2019 and $342 (27 percent) from its Oct. 16, 2009, base rate of $1,232 per TEU. To MEDITERRANEAN base ports* SURGES: The June 24, 2020, Mediterranean base port average spot rate was $968 per TEU, up $19 (2 percent) from the prior week. The Mediterranean rate is up $242 (33 percent) year over year and down $204 (17 percent) from year- end 2019. The June 24 index reading has tumbled $311 (24 percent) from 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 © 2020 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 6/24/2020 $0 $500 $1,000 $1,500 $2,000 $2,500 1/1/2010 6/24/2020 1/1/2010 6/24/2020 $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 1/1/2010 6/24/2020 $500 $1,000 $1,500 $2,000 $2,500 $3,000 1/1/2010 6/24/2020 $300 $600 $900 $1,200 $1,500 $1,800