News
China's export container freight market lacked momentum in general and freight indexes fell again on the week ended on August 10. The China Containerized Freight Index （CCFI） and Shanghai Containerized Freight Index （SCFI） issued by Shanghai Shipping Exchange （SSE） stood at 1273.51 points and 1363.41points, slightly down by 0.8% and up 0.4% from the previous week respectively.
The container freight indexes in the Asia-Europe trade dropped last week, after a temporary rise in early August resulting from shipping lines’ rate hikes and the CCFI fell by 2.1% to 1831.36. The trade from China to the Mediterranean suffered a severe decline in container volumes and the CCFI in the trade dropped by 9.45% from the previous week.
Spot rates in the trade from Shanghai to the U.S. rose moderately keeping the utilization at the level of 90% on average last week. The U.S. West Coast rates stood at $2,782 per FEU while the U.S. East Coast rates were $4,098 per TEU, resulting in week-on-week increases of 4.2% and 2.7%, respectively.
In the trade from Shanghai to Japan, export cargo volume had been stable keeping the utilization rate at 75% but the CCFI fell slightly by 0.6% to 738.91.
