Container freight still did not stop falling, the Shanghai export container freight index (SCFI) last week's decline widened again, this week can hold the 900 point level becomes the focus of the market. The Shanghai Container freight index for export fell 24.53 points to 906.55 last week, a weekly decline of 2.63 per cent, according to the latest data released by the Shanghai HNA Exchange on March 10. It was not only the ninth consecutive decline, but also the fifth consecutive week under the 1,000 level, the decline is also significantly wider than the previous week's 1.65 percent. The FEU rate for Far East to Western America fell $37, or 3.08 per cent, to $1,163 last week, widening from a 2.76 per cent drop the previous week. FEU rates on the Far East to East America line fell $127 to $2,194, widening to 5.47% from 2.93% in the previous week. Meanwhile, the Far East to Mediterranean line fell $11 per TEU, or 0.69 per cent, to $1,589, slightly wider than the 0.31 per cent drop in the previous week. However, the rate for the Far East to Europe line was $865 per TEU, unchanged from the previous week. Industry players pointed out that the active adjustment of capacity by container carriers, coupled with a slight pick-up in Asian factory shipments after the end of the year, the European line by the end of March many container ships have been full, helping to stabilize rates; However, the decline widened last week as U.S. inflation pressures, conservative purchases by retailers and importers, and relatively high freight rates on the U.S. East Line attracted ships from all over the world. At the same time as spot rates have plunged, the rate of freight on the US line for the New Year has reportedly been cut to one-third of last year's rate, but some freight carriers have changed the annual rate to quarterly or semi-annual rate, reducing the impact. In addition, shipping companies have been frantically cutting shifts to lengthen shipping routes recently, and shippers have softened their bargaining attitude, which also helps ease the pressure on freight rates. specially
