News
The Shanghai Shipping Exchange (SSE) recently announced freight rates for exporting containerized shipments from China in Week 19. The composite China Containerized Freight Index (CCFI) improved 2.9% from the previous week to 2,134.37 points. Meanwhile, the Shanghai Containerized Freight Index (SCFI), the index for container exports from Shanghai that do not include terminal handling charges (THCs), hiked 8% to 3,343.34 points.
The CCFIs increased for containers bound for both Europe and the Mediterranean, growing 3.2% to 3,462.84 points and 0.6% to 3,908.94 points, respectively. The indexes climbed for shipments destined North America as well, rising 4.4% to 1,749.12 points for those to the east coast and 6.8% to 1,464.75 points for those to the west coast.
On north-south routes, the CCFIs stood at 1,552.13 points for exports to Australia and New Zealand, up 1.4%; 1,862.63 points for those to South America, up 2.8%; 2,361.11 points for those to the Middle East Gulf and the Red Sea, up 4.7%; and 1,819.62 points for those to southern Africa, up 2.3%. In contrast, the index weakened 0.5% to 1,554.37 points for containers to western and eastern Africa. On intra-Asia trades, the CCFI rose 2.9% to 916.45 points for exports to Japan, up 2.9%, but the indexes fell 1.2% to 853.96 points for those to South Korea and 1.2% to 1,255.98 points for those to Southeast Asia.
