Issue link: https://jocdigital.uberflip.com/i/962145
66 The Journal of Commerce | April 16 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 RISES AFTER WEEKS OF DECLINE: The SCFI gained 12.09 points or 1.9 percent from the prior week, inching up to 658.68 points for the week ending March 30, 2018. The index is 165.5 points or 20.1 percent below year-end 2017. Source: IHS Markit ©2017 IHS Markit Comprehensive SCFI* INDEX DOWN YEAR OVER YEAR: The March 30, 2018, SCFI comprehensive reading was 658.68 points, which is 171.34 points or 20.6 percent below the same week last year. This index was 341.32 points or 34.1 percent below the Oct. 16, 2009, base of 1,000 points. To US WEST COAST base ports* BUCKS DOWNARD SLIDE: The March 30, 2018, US West Coast base port average spot rate was $1,127 per FEU, $182 or 19.3 percent above the previous week. The rate is down 23.8 percent or $352 year over year, while $396 or 26 percent below year-end 2017. This March 30 index was $304 or 21.2 percent below its Oct. 16, 2009, base rate of $1,431 per FEU. To US EAST COAST base ports* RETURNS TO GROWTH: The March 30, 2018, East Coast base port average spot rate was $2,148 per FEU, $215 or 11.1 percent above the previous week as the rate rose for the first time in seven weeks. This week's rate is a year-over-year drop of $417 or 16.3 percent. The March 30 index is down $270 per FEU or 11.2 percent from year-end 2017, and $291 or 11.9 percent below its Oct, 16, 2009, base rate of $2,439 per FEU. To NORTH EUROPE base ports* FALLS FOR SEVENTH WEEK: The March 30, 2018, North Europe base port average spot rate was $633 per TEU, $71 or 10.1 percent below the prior week as the rate fell $205 or 24.5 percent year over year. The March 30 level was down $231 or 26.7 percent from year-end 2017, and down $599 or 48.6 percent from its Oct. 16, 2009, base rate of $1,232 per TEU. To MEDITERRANEAN base ports* CONTINUES TO DECLINE: The March 30, 2018, Mediterranean base port average spot rate was $615 per TEU, down $35 or 5.4 percent from the prior week. The Mediterranean rate is down $222 year over year or 26.5 percent and is down $123 or 16.7 percent from year-end 2017. The March 30 level tumbled $664 or 51.9 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 3/30/2018 $0 $500 $1,000 $1,500 $2,000 $2,500 1/1/2010 3/30/2018 1/1/2010 3/30/2018 $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 1/1/2010 3/30/2018 $500 $1,000 $1,500 $2,000 $2,500 $3,000 1/1/2010 3/30/2018 300 600 900 1,200 1,500 1,800