News
The China Containerized Freight Index (CCFI), unveiled by the Shanghai Shipping Exchange (SSE), increased 1.54% from a month earlier to 764.84 points on average in May, according to the nation's Ministry of Transport. The average Shanghai Containerized Freight Index (SCFI), meanwhile, surged a more notable 13.9% to 768.01 points. The ministry indicated that rate hikes implemented by shipping companies had a certain impact on China's export container market in May, helping container fares rebound across the board.
As for the average CCFIs on the Europe and Mediterranean routes, the former remained unchanged at 983.56 points, while the latter improved 1.7% to 942.13 points. The SCFIs were $798/TEU on the Europe trade and $776/TEU on the Mediterranean trade, which jumped 28.2% and 25.6%, respectively.
The load factors of containerships from Shanghai to North America were around 90% to both the east and west coasts. The average CCFIs were 862.07 points to the east coast, up 5% and 631.86 points to the west coast, up 7.2%. The SCFIs went up 7.4% to $2,362/FEU on average on the east coast route and up 17.1% to $1,375/FEU on the west coast route.
On the trade route to Japan, the CCFI average leveled off at 724.8 points. The SCFI averages were $229/TEU to Kansai, which rose 4.2%, and $227/TEU to Kanto, which climbed 2.8%.
