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66 The Journal of Commerce | June 11 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. CONTINUES TO MAKE GAINS: The SCFI gained 10.51 points or 1.4 percent from the prior week, increasing to 764.34 points for the week ending May 25, 2018. The index is 59.84 points or 7.3 percent below year-end 2017. Source: IHS Markit ©2017 IHS Markit Comprehensive SCFI* INDEX DOWN YEAR OVER YEAR: The May 25, 2018, SCFI comprehensive reading was 764.34 points, which is 89.09 points or 10.4 percent below the same week last year. This index was 235.66 points or 23.6 percent below the Oct. 28, 2009, base of 1,000 points. To US WEST COAST base ports* GOES POSITIVE YEAR OVER YEAR: The May 25, 2018, US West Coast base port average spot rate was $1,283 per FEU, $25 or 1.9 percent below the previous week as the rate made its first year-over- year gains of 2018, suggesting a return to normal seasonal patterns. The rate is up 1.5 percent or $19 year over year, while $240 or 15.8 percent below year-end 2017. This May 25 index was $148 or 10.3 percent below its Oct. 16, 2009, base rate of $1,431 per FEU. To US EAST COAST base ports* RISES YEAR OVER YEAR: The May 25, 2018, East Coast base port average spot rate was $2,271 per FEU, $60 or 2.6 percent below the previous week. This week's rate is a year-over-year increase of $42 or 1.9 percent. The May 25 index is down $147 per FEU or 6.1 percent from year-end 2017, and $168 or 6.9 percent below its Oct. 16, 2009, base rate of $2,439 per FEU. To NORTH EUROPE base ports* FLUCTUATES: The May 25, 2018, North Europe base port average spot rate was $825 per TEU, $32 or 4 percent above the prior week as the rate fell $152 or 15.6 percent year over year. The May 25 level was down $39 or 4.5 percent from year-end 2017, and down $407 or 33 percent from its Oct. 16, 2009, base rate of $1,232 per TEU. To MEDITERRANEAN base ports* INCREASES FOR SIXTH WEEK: The May 25, 2018, Mediterranean base port average spot rate was $848 per TEU, up $53 or 6.7 percent from the prior week. The Mediterranean rate is down $97 year over year or 10.3 percent but is up $110 or 14.9 percent from year-end 2017. The May 25 level tumbled $431 or 33.7 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 © 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 5/25/2018 $0 $500 $1,000 $1,500 $2,000 $2,500 1/1/2010 5/25/2018 1/1/2010 5/25/2018 $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 1/1/2010 5/25/2018 $500 $1,000 $1,500 $2,000 $2,500 $3,000 1/1/2010 5/25/2018 300 600 900 1,200 1,500 1,800

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