News
The Shanghai Shipping Exchange (SSE) recently unveiled freight rates for exporting containerized shipments from China in Week 20. The composite China Containerized Freight Index (CCFI) rose 3.9% from the previous week to 2,216.63 points, reaching the highest level since it was first calculated. The index was set at 1,000 points on Jan. 1, 1998. Meanwhile, the Shanghai Containerized Freight Index (SCFI), which was set at the same value on Oct. 16, 2009, improved 2.4% to 3,422.5 points.
On major east-west routes, the CCFIs increased across the board. There were rises of 2.8% to 3,560.66 points on the trade to Europe, 4% to 3,908.94 points on that to the Mediterranean, 5.2% to 1,541.02 points on that to the west coast of North America and 6.1% to 1,855.86 points on that to the east coast.
On north-south trades, the CCFIs went down 2.1% to 1,519.92 points for containers destined to Australia and New Zealand, and 2.1% to 1,823.87 points for those to South America. On the other hands, the indexes hiked 11.1% to 2,622.35 points for shipments to the Middle East Gulf and the Red Sea, 5.9% to 1,926.8 points for those to southern Africa and 1.3% to 1,574.75 points for those to western and eastern Africa.
On intra-Asia routes, the CCFIs declined 0.1% to 915.13 points on the Japan route and 2.6% to 831.7 points on the South Korea route. In contrast, the Southeast Asia route enjoyed an increase of 3.3% to raise the index to 1,297.71 points.
