News
The composite China Containerized Freight Index (CCFI) stood at 1,863.61 points in Week 12, down 2.3% from the previous week, according to the Shanghai Shipping Exchange (SSE). The Shanghai Containerized Freight Index (SCFI), the spot-rate index for container exports from Shanghai, meanwhile, fell a milder 0.5% to 2,570.68 points. The parameters both decreased for four consecutive weeks and have entered a correction phase.
Looking at east-west trade routes, the CCFI for containers destined to Europe waned 1.8% to 2,991.42 points and for those to the Mediterranean, 3.9% to 3,328.43 points. The index for exports to the east coast of North America also shrank from a week earlier, going down 2.1% to 1,433.68 points. On the other hand, the freight index for containers to the west coast of North America was the only one to enjoy an improvement, which grew 0.4% to 1,307.26 points.
On near-sea routes, the CCFI for containers to Japan rose 2.7% to 921.13 points, but for those to South Korea, it sank 7.1% to 867.24 points. The index declined on the Southeast Asia route, too, depreciating 6.3% to 1,351.81 points.
