Issue link: https://jocdigital.uberflip.com/i/957477
42 The Journal of Commerce | April 2 2018 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 TUMBLES FOR SIXTH WEEK: The SCFI lost 54.03 points or 7.4 percent from the prior week, falling to 675.46 points for the week ending March 16, 2018. The index is 148.72 points or 18 percent below year-end 2017. Source: IHS Markit ©2017 IHS Markit Comprehensive SCFI* INDEX SLIPS YEAR OVER YEAR: The March 16, 2018, SCFI comprehensive reading was 675.46 points, which is 71.57 points or 9.6 percent below the same week last year. This index was 324.54 points or 32.5 percent below the Oct. 28, 2009, base of 1,000 points. To US WEST COAST base ports* SLIDES FOR SIXTH WEEK: The March 16, 2018, US West Coast base port average spot rate was $1,016 per FEU, $127 or 11.1 percent below the previous week. The rate is down 24.1 percent or $322 year over year, while $507 or 33.3 percent below year- end 2017. This March 16 index was $415 or 29 percent below its October 16, 2009, base rate of $1,431 per FEU. To US EAST COAST base ports* DECLINES AGAIN: The March 16, 2018, East Coast base port average spot rate was $2,009 per FEU, $172 or 7.9 percent below the previous week as the rate declined for the sixth straight week. This week's rate is a year-over-year drop of $712 or 26.2 percent. The March 16 index is down $409 per FEU or 16.9 percent from year-end 2017, and $430 or 17.6 percent below its Oct. 16, 2009, base rate of $2,439 per FEU. To NORTH EUROPE base ports* FALLS FOR FIFTH WEEK: The March 16, 2018, North Europe base port average spot rate was $741 per TEU, $50 or 6.3 percent below the prior week as the rate fell $78 or 9.5 percent year over year. The March 16 level was down $123 or 14.2 percent from year-end 2017, and down $491 or 39.9 percent from its Oct. 16, 2009, base rate of $1,232 per TEU. To MEDITERRANEAN base ports* SLUMPS FOR THIRD WEEK: The March 16, 2018, Mediterranean base port average spot rate was $665 per TEU, down $36 or 5.1 percent from the prior week. The Mediterranean rate is down $137 year over year or 17.1 percent and is down $73 or 9.9 percent from year-end 2017. The March 16 level tumbled $614 or 48 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, www1.chineseshipping.com.cn/en/indices/scfinew.jsp © 2018 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 3/16/2018 $0 $500 $1,000 $1,500 $2,000 $2,500 1/1/2010 3/16/2018 1/1/2010 3/16/2018 $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 1/1/2010 3/16/2018 $500 $1,000 $1,500 $2,000 $2,500 $3,000 1/1/2010 3/16/2018 300 600 900 1,200 1,500 1,800