News
China's export demand for container transport had remained at a high level in general in the week ended on May 7, with China Export Containerized Freight Index (CCFI) at 1120.46 points, basically the same as the previous period, and Shanghai (Export) Containerized Freight Index 1392.09 points, up 3.9% over the previous period thanks to higher transpacific freight rates.
On the trade from China to Europe, freight rates remained stable in the week with CCFI at 1783.73 for Europe and 1877.08 for the Mediterranean, despite the recent large increase in capacity.
On the North American routes, the relative success of this year's contract negotiations had boosted the indexes to 982.09 for exports to the U.S. West Coast and to 1168.80 for exports to the U.S. East Coast, up 1.0 and 0.2 points respectively from the previous week. Market rates including ocean freight and surcharges were US$2,395 per FEU for the West Coast and $3,508 per FEU for the East Coast, representing a substantial increase of $289 and $333 over the previous period respectively.
The trade to Japan remained sluggish due to Japanese holidays and the average space utilization stayed below the 70% mark. The index of China's export to Japan was 730.11 points, unchanged from the previous period.
