Shanghai Containerized Freight Index (SCFI) Hits 5,000 Points For The First Time

The Shanghai Containerized Freight Index (SCFI), a bellwether of the box spot markets, hit the 5,000 mark on Friday, for the first time in history, thereby leading in 2022 with ever greater fortunes for liner operators.

Data Courtesy: en.sse.net.cn

Also Read: Baltic Dry Index Registers Its Worst Week in Almost Three Years – Marinemonks

The index soared 91 points to 5,047, which was nearly five times more than its historical average. It hit the 4,000 barrier in July last year for the first time ever, hitting a brief plateau at the start of autumn before rising again over the past six weeks.

As the first round of tender data has begun to roll in, Xeneta data reveals that most of the 2022 long term contracts will be at record-high levels. Carriers are now asking clients to pay up for secured, long term deals or risk being hit by the vagaries of the spot market.

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