Summary
- The Shanghai Containerized Freight Index (SCFI) was reported at 1489.19, up 11.71% from the previous week.
- It was reported that SCFI has rebounded sharply since a low (1251.46) on the 13th of last month.
- Freight rates on Middle East routes jumped 72.3% in a week to $2,287 per TEU, and the increase was attributed to the war between the United States and Iran.
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According to the Shanghai Shipping Exchange on the 11th, the Shanghai Containerized Freight Index (SCFI) stood at 1489.19, up 11.71% from the previous week. It has rebounded sharply since hitting a low of 1251.46 on the 13th of last month. In particular, freight rates on Middle East routes jumped 72.3% in a week to $2,287 per TEU (one 20-foot container). The rise is seen as a result of logistics disruptions caused by the war between the United States and Iran.
Reporter Hyun-jin Ra raraland@hankyung.com
Korea Economic Daily
hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.
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