Container shipping rates continue to rise

Rates for container shipments from China to North America and Europe rose again this week, despite recent intervention by the Chinese authorities to prevent further increases in rates, primarily on routes across the Pacific Ocean.
According to TASS , the value of the SCFI index rose by 4% over the past week. Among the main directions of transportation along the East-West axis, the rates for the ports of the Mediterranean increased the most: + 6.5%, to 1188 USD per TEU. The cost of shipping a container from China to the base ports of Northern Europe increased by 2.7% over the week, to $ 1,082 per TEU.SCFI sub-indices on routes to North America rose 1.4% for ports on the west coast and 2.2% for the east coast, to $ 3867 and $ 4634 per FEU, respectively. These levels are twice as high as in early summer.
This growth has caught the attention of regulators. Earlier this week, TASS reported that the Chinese Ministry of Transport held a meeting with representatives of line operators and asked to refrain from further rate hikes.