News
The China Containerized Freight Index (CCFI), unveiled by the Shanghai Shipping Exchange (SSE), averaged 1,906.13 points in January, surging 27.8% from the previous month, according to a report released on Feb. 5 by the nation’s Ministry of Transport (MOT). Analyzing the market for exporting containers from China during the month in question, the report added that the Shanghai Containerized Freight Index, an index for spot freight rates, also soared, going up 16.9% to 2,871.5 points on average.
On the trade to Europe, demand increased for daily necessities and medical products, as a variant of novel coronavirus spread in the U.K. In January, as a consequence, the CCFI averages jumped 54.7% to 2,971.83 points on the route to North Europe and 51.5% to 3,353.6 points to the Mediterranean.
On the trade lane to the U.S., the supply of container slots was insufficient despite stable transport demand. The CCFI averages, as such, inflated 8% to 1,441.06 points for containers destined to the East Coast and 6% to 1,298.42 points for those to the West Coast.
Transport demand grew at high levels for shipments bound for Australia and New Zealand, lifting the CCFI average 10.4% to 1,450.7 points. The index rose more significantly for containers to South America, rising 32.4% to 1,830.68 points on average, powered by rises in demand for daily necessities and medical products.
The market was on the rise for containers to Japan as well, helping the CCFI average hike 6.8% to 845.13 points.
