[Asia Economy Reporter Dongwoo Lee] Global shipping freight rates have fallen for the second consecutive week. In particular, freight rates on major routes for domestic export companies, such as those to the Americas and Europe, declined simultaneously.
According to the industry on the 22nd, the Shanghai Containerized Freight Index (SCFI), a global shipping freight rate indicator, recorded 5,053.12 points, down 41.24 points from the previous week.
The East Coast of the Americas route dropped by $392 to $11,337 per 1FEU (12-meter container) compared to the previous week. The West Coast route, which had maintained $7,994 for two weeks, also fell by $18 to $7,976 per 1FEU.
The upward trend on the Europe route was also broken after 11 weeks. Freight rates on the Europe route decreased by $14 to $7,787 per 1TEU (12-meter container) compared to the previous week.
Routes to the Middle East, Australia/New Zealand, and South America also declined. The Middle East route dropped by $120 to $3,575 per 1TEU, and the Australia/New Zealand route fell by $63 to $4,610 per 1TEU.
The South America route recorded $9,988 per 1TEU, down $180, breaking below the $10,000 mark. Meanwhile, the Mediterranean route rose by $2 to $7,522 compared to the previous week.
However, due to ongoing logistics bottlenecks at major global ports, the strong shipping freight rates are expected to continue for the time being.
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