News
The composite China Containerized Freight Index (CCFI) increased 0.3% from the previous week to 1,881.82 points in Week 44, turning upward for the first time in two weeks, according to a weekly report on China’s container exports unveiled last Friday by the Shanghai Shipping Exchange (SSE). The composite Shanghai Containerized Freight Index (SCFI) rose 0.2% to 3,687.35 points, marking the fourth consecutive week of growth.
On the east-west trades, the individual CCFIs were down 0.9% to 1,831.96 points to Europe, down 1% to 2,283.18 points to the Mediterranean, up 2.1% to 1,815.66 points to the west coast of North America, and down 1% to 2,005.3 points to the east coast of North America.
On the north-south routes, the CCFIs were down 2.3% to 1,380.54 points to South America but up 0.9% to 3,854.58 points to the Middle East Gulf and the Red Sea, up 0.2% to 1,861.46 points to Australia and New Zealand, up 11.8% to 1,839.54 points to Southern Africa, and up 5.5% to 1,134.75 points to East and West Africa.
Within Asia, the CCFIs were up 1.2% to 1,435.04 points to Southeast Asia but down 4.4% to 1,016.98 points to Japan and down 2.1% to 763.74 points to South Korea.
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.
