en.Wedoany.com Reported - The Shanghai Containerized Freight Index (SCFI) in China has risen for three consecutive weeks, climbing back above the 2,000-point mark.
According to the latest data released by the Shanghai Shipping Exchange on May 15, the SCFI index rose by 186.45 points last week to 2,140.66 points, with the weekly increase expanding to 9.54%. Freight rates on all four major long-haul routes continued to rise, with increases exceeding 10%, and the Mediterranean route freight rate surge surpassing 20%.
Last week, freight rates from the Far East to the US West Coast rose by $292 per FEU to $3,118, a weekly increase of 10.33%; rates from the Far East to the US East Coast rose by $412 per FEU to $4,224, a weekly increase of 10.81%; rates from the Far East to Europe rose by $220 per TEU to $1,816, a weekly increase of 13.78%; and rates from the Far East to the Mediterranean rose by $682 per TEU to $3,145, a weekly increase of 27.69%.
On intra-Asia routes, freight rates from the Far East to Kansai, Japan remained flat compared to the previous week at $316 per TEU; rates from the Far East to Kanto, Japan remained flat at $318 per TEU; rates from the Far East to Southeast Asia rose by $7 per TEU to $570; and rates from the Far East to South Korea fell by $13 per TEU to $161.
Industry insiders indicate that shipping demand recovered after the May Day holiday, with container shipping companies continuously maintaining supply-demand balance through capacity management and freight rate adjustments. Meanwhile, the Middle East situation and the risk of disruption in the Strait of Hormuz are causing increased port congestion at major Asian transshipment hubs, including Singapore, Malaysia, India, and Sri Lanka, putting pressure on route stability and transit times, which also helps support the upward trend in freight rates.
Recently, affected by the Middle East situation, international oil price fluctuations, coupled with port congestion in some regions extending voyage cycles, have pushed up operating costs for container shipping companies. To reflect changes in market supply and demand, container shipping companies plan to raise freight rates in the second half of May. The US West Coast route is proposed to increase by about $550, bringing the rate to $3,350 per FEU; the US East Coast route is proposed to increase by about $500-$600, bringing the rate to approximately $4,550 per FEU; and the Europe route is proposed to increase by about $700, bringing the rate to approximately $2,800-$3,000 per FEU.
Looking ahead to the full year, due to ongoing disruptions to global trade from Trump's tariff policies, Middle East port transport interruptions caused by the US-Iran war, and global container shipping scheduling chaos, freight rate trends will not only be influenced by the Middle East situation but also by high oil prices fueling inflation expectations. Given the multiple factors affecting the US consumer market and changes in tariff policies, freight rates are expected to exhibit volatile performance.
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