News
The composite China Containerized Freight Index (CCFI) grew a minute 0.2% to 3,284.9 points in Week 44, marking its first growth in two weeks, according to the Shanghai Shipping Exchange (SSE). In contrast, the composite Shanghai Containerized Freight Index (SCFI), the index for spot rates for exporting containers from the Chinese port that do not include terminal handling charges (THCs), fell 0.7% to 4,535.92 points, incurring a decrease for the fourth week in a row. The CCFI was set at 1,000 points on Jan. 1, 1998, and the SCFI at the same value on Oct. 16, 2009.
Looking at fluctuations on trunk east-west routes, the CCFIs rose 1.2% to 5,426.49 points for container exports to Europe but sank 0.4% to 6,185.97 points for those to the Mediterranean. Mixed results were made for shipments to North America. The indexes went down 0.6% to 2,465.83 points for those to the east coast but picked up 1.4% to 2,251.7 points for those to the west coast.
Meanwhile, spot rates sank 0.7% to $7,637 per TEU on the route to Europe. On the trade to North America, rates declined 0.2% to 10,428 per FEU for containers to the east coast, suffering a decline for five consecutive weeks. For those to the west coast, spot rates increased 0.7% to $6,461 per FEU, making an improvement for three weeks running.
