On the 29th, the latest Shanghai container export freight index SCFI showed an upward trend, an increase of 3.41%, ending two consecutive weeks of decline. This increase was mainly driven by the strong European and Mediterranean lines, which rose 22.49% and 19.9% respectively. However, the U.S. West and U.S. East routes continued their downward trend, falling 12.46% and 0.86%, respectively.

Industry experts pointed out that the European cargo volume is stable and the supply is steady, so it is expected that the freight rates on the European route will to rise. As for the US-West route, considering that the Chinese new year will be earlier next year in late January, we can expect to see a traditional-year rush in mid-December, which will give the freight rates a chance to stabilize or even rise.