News
In October, the average China (Export) Containerized Freight Index (CCFI) released by the Shanghai Shipping Exchange was 1051.77 points, an increase of 8.9% from the previous month while the average Shanghai (export) Containerized Freight Index (SCFI) reflecting the spot market was 1,460.72 points, which was 6.5% higher over the previous month.
On the trade from China to Europe, stable demand boosted CCFI both on Europe and Mediterranean routes by 4.6% and 8.1% to 1,139.73 points and 1,382.32 points, respectively. SCFI also registered almost equivalent growth rate by 4.7% and 8.8%, to $1,122 per TEU and $1,243 per TEU, respectively.
On the transpacific routes, the tight market space has not been significantly improved, the weekly average space utilization rate for vessels from Shanghai Port has always remained above 95%. On the trade from Shanghai to the US West and East US, CCFI was 1,073.76 points and 1,204.32 points, respectively with an increase of 5.2% and 8.4% over the previous month and SCFI was $3,853 per FEU and $4,624 per FEU, up 1.1% and 1.7% respectively.
