The Shanghai Containerized Freight Index (SCFI) rose 9.3% on Friday compared to the previous week and was up 214.97 points at 2,520.76 points. This followed a 365.16 point jump the previous week and the SCFI is now 29.8% higher than it was just two weeks.

The last two weeks of gains sees container spot rates recovering the ground lost in recent months as the Red Sea situation with re-rerouting via the Cape of Good Hope appeared to normalise. However, despite taking delivery of 1.14 million teu of new capacity this year container lines still have a shortage of 36 ships on the Asia – Europe trade according to analyst Alphaliner.