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The composite China Containerized Freight Index (CCFI) came to 2,296.36 points in Week 21, rising 3.6% from the previous week and reached another all-time high, the Shanghai Shipping Exchange (SSE) announced recently. Meanwhile, the composite Shanghai Containerized Freight Index (SCFI) stood at 3,495.76 points, which hiked 4.8% and was also another new record. The CCFI was set at 1,000 points on Jan. 1, 1998, while the SCFI was set at the same value on Oct. 16, 2009.

Looking at index fluctuations on east-west routes, the CCFIs improved favorably across the board, floating 5% to 3,739.5 points for containers destined to North Europe, 9.6% to 4,458.22 points for those to the Mediterranean, 5% to 1,590.53 points for those to the U.S. West Coast and 2% to 1,893.27 points for those to the U.S. East Coast.

On north-south trades, the CCFIs for moving shipments to Australia and New Zealand went up 1.7% to 1,545.11 points but down 0.9% to 1,808.3 points for those to South America. The index remained nearly unchanged at 2,623.51 points on the route to the Middle East Gulf and the Red Sea. The CCFIs grew 5.9% to 1,955.68 points for containers to southern Africa but fell 1.8% to 1,546.55 points for those to western and eastern Africa.

On intra-Asia routes, the CCFI for container exports to Japan declined 0.3% to 912.63 points, but the index picked up 2% to 848.24 points for those to South Korea. The CCFI dropped 1.8% to 1,274.92 points for exports to Southeast Asia.

CCFIs are calculated based on container volumes and freight rates on 12 major routes for exporting shipments from the Chinese ports of Dalian, Tianjin, Qingdao, Shanghai, Nanjing, Ningbo, Xiamen and Fuzhou.


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