Container shipping sees signs of a bottom (at least, for now)

The Shanghai Containerized Freight Index (SCFI) — a closely watched measure of container shipping spot rates — has just risen for the third week in a row after nine months of continuous declines.

The SCFI came in at 1033.65 points on Friday, up 8% week on week (w/w). The China-U.S. West Coast route, which comprises 20% of the index weighting, jumped 29% w/w, to $1,668 per forty-foot equivalent unit.

View entirety: Freightwaves