News
The composite China Containerized Freight Index (CCFI) went down 1.1% to 3,277.71 points in Week 43, according to the Shanghai Shipping Exchange (SSE). The index declined from the previous week for the first time in two weeks. Meanwhile, the composite Shanghai Containerized Freight Index (SCFI) fell 0.4% to 4,567.28 points. The SCFI sank from the previous week for three weeks in a row. 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 trade routes, the CCFIs decreased 1.8% to 5,362.27 points for containers destined to Europe and 0.6% to 6,210.41 points for those to the Mediterranean. On the trans-Pacific trade, the indexes dipped 0.9% to 2,480.58 points for shipments to the U.S. East Coast and a more significant 6.8% to 2,220.11 points for those to the West Coast.
On north-south routes, the CCFI dropped 0.3% to 4,040.84 points for container exports to the Middle East Gulf. In contrast, the indexes were favorable for those to other destination. They went up 1.3% to 2,843.49 points for those to Australia and New Zealand, 2.7% to 3,000.72 points for those to South America, 1.6% to 2,137.59 points for those to eastern and western Africa and 2.9% to 3,763.81 points for those to southern Africa.
On intra-Asia nearsea routes, the CCFIs improved 4.5% to 1,052.38 points for containers to Japan, 3.9% to 1,643.49 points for those to Southeast Asia and 6.6% to 1,059.19 points for those to South Korea.
