News
The composite China Containerized Freight Index (CCFI) stood at 1,876.23 points in Week 43, down 2.4% from the previous week, according to a weekly report on China’s container exports unveiled by the Shanghai Shipping Exchange (SSE). The CCFI rebounded in Week 42 but fell again last week. Meanwhile, the Shanghai Containerized Freight Index (SCFI) quoted 3,681.34 points, up 0.05%, marking three consecutive weeks of growth.
On the east-west trades, the individual CCFIs were sluggish across the board, going down 0.3% to 1,849.31 points to Europe, down 2% to 2,306.97 points to the Mediterranean, down 4.2% to 1,778.49 points to the west coast of North America, and down 2.6% to 2,026.09 points to the east coast of North America.
On the north-south routes, the CCFIs were up 5% to 1,646.1 points to Southern Africa, unchanged at 1,857.7 points to Australia and New Zealand, down 5.4% to 3,820.54 points to the Middle East Gulf and the Red Sea, down 4.1% to 1,075.96 points to South America, and down 4.4% to 1,075.96 points to East and West Africa.
Within Asia, the CCFIs were up 4.4% to 800.86 points to South Korea and ２.４％up to 1,876.27 points to Japan but down 3% to 1,418.65 points to Southeast Asia.
The CCFI is an indicator for freight rates for container exports from China that are transported on medium- and long-term contracts, which was set at a baseline of 1,000 points on Jan. 1, 1998. The SCFI represents spot rates for container exports from Shanghai that do not include terminal handling charges (THCs), which was set at the same points on Oct. 16, 2009.
