News
As the peak season has set in, transport demand grew in general in July, but tonnage supply remained unchanged, according to a report on the market for exporting containers from China, compiled by the nation’s Ministry of Transport (MOT). The China Containerized Freight Index (CCFI), unveiled by the Shanghai Shipping Exchange (SSE), averaged 820.31 points, up 2.1% from June. The Shanghai Containerized Freight Index (SCFI), which reflects market fluctuations more immediately, was 819.78 points on average, up 3.6%.
Transport demand increased on the route to Europe and the Mediterranean as well, thanks to economic recoveries in Europe. The average load factor of containerships from Shanghai to Europe was 90% or even higher for a long time. As such, the CCFI rose 3.7% to 1,077.83 points on average. Although there were similar developments on the route to the Mediterranean, freight rates were hiked more steeply. As a consequence, the average CCFI inflated 6% to 1,191.73 points.
Transport demand grew on the trade to North America, too, in the midst of the peak season, tightening the supply-demand balance. The average load factor of container freighters from Shanghai maintained 95% or higher, with some departing the Chinese port fully loaded with shipments. The CCFI averages were 632.77 points on the route to the west coast, up 0.1%, and 830.38 points on the route to the east coast, up 0.8%.
