Container Shipping Market Defies Off-Season Slump as SCFI Rises for Two Consecutive Weeks
According to the latest data released by the Shanghai Shipping Exchange on December 19, the Shanghai Containerized Freight Index (SCFI) rose by 46.46 points last week to 1,552.92 points, marking a weekly increase of 3.08%. Among the four major ocean routes, freight rates on three routes increased, while the Europe route experienced a decline, with the U.S. West Coast route recording an increase of over 10%.
Specifically, freight rates from the Far East to the U.S. West Coast rose by USD 212 per FEU to USD 1,992, a weekly gain of 11.91%. Rates from the Far East to the U.S. East Coast increased by USD 194 per FEU to USD 2,846, up 7.32% week-on-week. In contrast, rates from the Far East to Europe decreased by USD 5 per TEU to USD 1,533, down 0.33%. Meanwhile, freight rates from the Far East to the Mediterranean rose by USD 96 per TEU to USD 2,833, a weekly increase of 3.51%.
For regional routes, freight rates from the Far East to Japan’s Kansai region remained stable at USD 312 per TEU, while rates to Japan’s Kanto region were unchanged at USD 321 per TEU. However, rates to Southeast Asia fell by USD 14 per TEU to USD 542, and rates to South Korea declined by USD 1 per TEU to USD 138.
Industry insiders noted that container shipping companies successfully pushed up freight rates in mid-December. Between December 19 and 31, spot rates for the U.S. West Coast route were approximately USD 2,000–2,100 per FEU, and USD 2,950–3,100 per FEU for the U.S. East Coast route, indicating ongoing consolidation. According to international research agencies, container volumes arriving at U.S. ports in December are projected to decline by about 16.6% year-on-year, with shipments from China showing a notable decrease.
On the other hand, although the Europe route has entered its off-season, year-end rates have remained relatively stable. Compared to the range of USD 2,200–2,400 per FEU on December 15, current rates have risen to approximately USD 2,400–2,600 per FEU, an increase of USD 100–200. This is believed to be linked to capacity adjustments by shipping companies ahead of the year-end.
Looking ahead, stronger-than-expected U.S. Christmas sales have prompted major retailers to ramp up restocking efforts. Coupled with early demand ahead of the Chinese New Year, the upward trend in North American routes has begun earlier than usual. Market sources indicate that some large carriers have announced plans to raise rates effective January 1, with U.S. West Coast rates set to increase to USD 3,100 per FEU and U.S. East Coast rates to USD 3,950 per FEU.
Against the backdrop of record-high new vessel orders, uncertain demand growth prospects, and intensifying competition among shipping companies, the container shipping industry is widely expected to undergo a new wave of structural adjustments in the coming years. The key challenges will be whether the market can absorb the massive influx of new capacity and avoid prolonged low freight rates, which remains a critical concern for the industry.
