News
Container volumes exported from China did not increase very much during the week from March 19 to March 25, while container freight rates went down slightly, according to the Shanghai Shipping Exchange (SSE).
The China Containerized Freight Index (CCFI) for services in general and the New Shanghai Containerized Freight Index (SCFI) both remained nearly unchanged on March 25, standing at 1,018.25 points and 989.43 points, respectively.
The CCFI for services to and from Japan rose 3.1% from the 761.69 points for the week from March 12 to 18, which was immediately after the Great East Japan Earthquake occurred, to 785.56 points for the March 19- 25 week.
It is analyzed the index went up due to the increases in foodstuffs, daily necessities, medical supplies and other emergency relief aids that were transported from China to Japan after the devastating earthquake.
During the March 19- 25 week, container trade on the China/Europe trade almost leveled off, making the average load factor of containerships fluctuate around 90%. However, as tonnage supply increased, the CCFI for services to and from Europe fell 3.4% from the previous week to 1,320.4 points, and for those to and from the Mediterranean, 2.3% to 1,317.51 points.
Containers to the U.S. did not change much either, while the average load factor continued to decline mildly, going down to approximately 70%. Market freight rates, which include fares and surcharges, for services from Shanghai to the west coast of the U.S. and for those from Shanghai to the east coast of the U.S. both remained almost unchanged, amounting to US$1,608 per FEU and $2,819 per FEU, respectively.
