News
Freight rates for container exports from China continued to rise to hit record highs in Week 25, according to the Shanghai Shipping Exchange (SSE). The composite China Containerized Freight Index (CCFI) and Shanghai Containerized Freight Index (SCFI) both remained on an upward trend, with the former growing 2.6% from the previous week to 2,519.41 points and the latter, 1% to 3,785.4 points.
Looking at container fare developments on individual trade routes, the CCFIs stood at an all-time high of 4,226.75 points for shipments destined to North Europe, up 0.9%, and 5,067.36 points for those to the Mediterranean, up 6.1%, which was also a new record. The indexes for containers to the U.S. were record-breaking, too, improving 0.1% to 2,137.08 points for those to the East Coast and 3.8% to 1,783.56 points for those to the West Coast.
The CCFIs hiked on all north-south trade lanes, going up 4.1% to 3,189.09 points on that to the Middle East Gulf and the Red Sea, 0.1% to 1,664.36 points on that to Australia and New Zealand, 1.1% to 2,144.2 points on that to South America, 7.4% to 2,311.65 points on that to southern Africa and 9% to 1,775.34 points on that to western and eastern Africa.
Within Asia, the CCFIs declined minutely for exports to Japan and Southeast Asia, which fell 0.7% to 908.71 points and 0.7% to 1,307.05 points, respectively. In contrast, the index moved favorably for those to South Korea, rising 4.2% to 936.62 points.
