The Shanghai Containerized Freight Index (SCFI) has risen by 42.6% since the war broke out in Iran.

The price of container freight from Shanghai to various destinations around the world rose last week as evident by the latest figures from the Shanghai Containerized Freight Index (SCFI), published by the Shanghai Shipping Exchange.

The index rose by 1.9% to 1,890.77 last week, following a 1.5% increase the previous week.

Before the war in the Middle East broke out, the index stood at 1,333.11.

On Thursday, data from the World Container Index (WCI), compiled by the consulting firm Drewry and based on a 40-foot container, showed an increase of 0.9% to $2,308.78.

The index has risen for six consecutive weeks as the situation in the Middle East continues to force shipping companies to sail in a wide arc around the Red Sea.

The SCFI index peaked in early January 2022 at 5,109.60, while the most recent significant low was 931.89 in the week ending October 27, 2023.