26.06.22CCFI, SCFI Increase in Week 25

The composite China Containerized Freight Index (CCFI) quoted 1,599.07 points in Week 25, according to the Shanghai Shipping Exchange (SSE). The index increased 8% from the previous week thanks to supply chain demand recoveries worldwide and continued freight rate rises on trunk trade lanes. Meanwhile, the composite Shanghai Containerized Freight Index (SCFI) stood at 3,121.69 points, up 4.6%, marking its eighth consecutive week of growth and hitting a year-to-date high.

On the east-west trades, the individual CCFIs were up 10% to 1,980.13 points to Europe, up 9% to 2,584.76 points to the Mediterranean, up 9.7% to 1,229.87 points to the west coast of North America, and up 13.8% to 1,400.85 points to the east coast of North America.

On the north-south routes, the CCFIs were up 3.3% to 2,791.48 points to the Middle East Gulf and the Red Sea, up 9% to 2,584.76 points to Australia and New Zealand, up 16.1% to 1,322.36 points to South America, up 6.6% to 1,206.84 points to Southern Africa, and up 6.7% to 1,096.69 points to East and West Africa.

Within Asia, the CCFIs were up 2.1% to 959.13 points to Japan, up 3.3% to 1,132.58 points to Southeast Asia, and up 5.6% to 655.85 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 those from Shanghai that do not include terminal handling charges (THCs), which was set at the same points on Oct. 16, 2009.