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Due to the ongoing impact of U.S. tariff policies, global freight rates have remained low for an extended period.

However, the latest Shanghai Containerized Freight Index (SCFI) released recently reached 1445.06 points, with a weekly increase of 2.1%, ending an 11-week consecutive decline and signaling a rebound.

Last week, multiple shipping lines began pushing for freight rate increases in September.

Among the four major trade routes, rates for both the US West Coast and US East Coast started rising, with weekly increases of 17% and 9.7%, respectively. Meanwhile, European and Mediterranean routes continued to decline, falling by 11.2% and 3.6%, respectively.

Specifically, the North American trade lane saw a rebound in market rates. On August 29, the market freight rate (including ocean freight and surcharges) from Shanghai Port to base ports on the US West Coast and US East Coast was $1,923/FEU and $2,866/FEU, up 17.0% and 9.7% from the previous period, respectively.

For the European route, transportation demand lacked further growth momentum, and market rates continued to decline. On August 29, the market freight rate (including ocean freight and surcharges) from Shanghai Port to base ports in Europe was $1,481/TEU, down 11.2% from the previous period.

The Mediterranean route mirrored the European route, with weak supply and demand fundamentals and continued downward pressure on market rates. On August 29, the market freight rate (including ocean freight and surcharges) from Shanghai Port to base ports in the Mediterranean was $2,145/TEU, down 3.6% from the previous period.

The Persian Gulf route continued to see rising rates. On August 29, the market freight rate (including ocean freight and surcharges) from Shanghai Port to base ports in the Persian Gulf was $1,579/TEU, up 6.8% from the previous period.

The Australia-New Zealand route also experienced an increase in booking rates. On August 29, the market freight rate (including ocean freight and surcharges) from Shanghai Port to base ports in Australia and New Zealand was $1,325/TEU, up 4.6% from the previous period.

For the South America route, transportation demand growth remained sluggish, and market rates continued to decline. On August 29, the market freight rate (including ocean freight and surcharges) from Shanghai Port to base ports in South America was $3,027/TEU, down 2.6% from the previous period.

The Japan route remained stable, with a slight increase in market rates. On August 29, the freight rate index for exports from China to Japan was 957.13 points.

SCFI Rates:

• Europe: $1,481/TEU, down $187, weekly decrease of 11.2%

• Mediterranean: $2,145/TEU, down $80, weekly decrease of 3.6%

• US West Coast: $1,923/FEU, up $279, weekly increase of 17.0%

• US East Coast: $2,866/FEU, up $253, weekly increase of 9.7%

• Persian Gulf: $1,579 per TEU, up $100, weekly increase of 6.8%

• Australia-New Zealand: $1,325 per TEU, up $58, weekly increase of 4.6%

• South America: $3,027 per TEU, down $80, weekly decrease of 2.6%