News
The composite China Containerized Freight Index (CCFI) improved 0.9% to 3,300.34 points in Week 41, rising two weeks in a row, according to the Shanghai Shipping Exchange (SSE). In contrast, the composite Shanghai Containerized Freight Index (SCFI) fell 1.3% to 4,588.07 points, moving back to a downward trend.
Looking at fluctuations on major trade routes, the CCFIs produced mixed results between exports to Europe and the Mediterranean, which went down 0.2% to 5,530.61 points but up 1% to 6,053.66 points, respectively. There were similar developments on the route to North America. The indexes were down 5.2% to 2,547.78 points for containers to the east coast but up 7.5% to 2,295.6 points for those to the west coast.
The CCFI was set at 1,000 points on Jan. 1, 1998, while the SCFI was established at the same value on Oct. 16, 2009.
As for spot rates for container exports from the Chinese port of Shanghai, containers destined to Europe were moved at $7,687 per TEU, down 0.35%, and at 7,374 per TEU to the Mediterranean, down 0.99%. Spot rates fell on the trade to North America as well, sinking 3.73% to $10,700 per FEU for those to the east coast and 2.39% to $6,219 per FEU for those to the west coast.
