News
The composite China Containerized Freight Index (CCFI) stood at 3,500.19 points in Week 7, down 2.4% from the previous week, the Shanghai Shipping Exchange (SSE) said on February 18. Meanwhile, the composite Shanghai Containerized Freight Index (SCFI) fell 0.7% to 4,946.01 points. The CCFI, a freight index for medium- and long-term contracts set at 1,000 points on Jan. 1, 1998, decreased for the first time in 10 weeks. The SCFI, an index for spot rates for ex-Shanghai containers that do not include terminal handling charges, waned for the fifth week in a row. It was set at the same value on Oct. 16, 2009.
Looking at index fluctuations closely, the CCFIs were sluggish across the board between east and west. They went down 2.3% to 5,720.19 points for containers to Europe, 2.1% to 6,472.64 points for those to the Mediterranean, 2.9% to 2,693.1 points for those to the east coast of North America and 4.3% to 2,626.33 points for those to the west coast.
