News
The composite China Containerized Freight Index (CCFI) stood at 1,201.55 points in Week 2, the Shanghai Shipping Exchange (SSE) announced last Friday. The index fell 4.3% from the previous week and has remained on a downward trend for 25 weeks running. Meanwhile, the composite Shanghai Containerized Freight Index (SCFI) sank 2.8% to 1,031.42 points, which has trended down for two back-to-back weeks.
The individual CCFIs improved 0.6% to 2,183.06 points on the route to the Mediterranean but were bearish on others, declining 9.7% to 1,584.12 points on that to Europe, 2.5% to 822.62 points on that to the west coast of North America and 2.3% to 1,333 points on that to the west coast of North America.
The CCFI, an indicator for freight rates on medium- and long-term contracts, was set at 1,000 points on Jan. 1, 1998; the SCFI, which is for spot rates for containers from Shanghai that do not include terminal handling charges (THCs), was set at the same value on Oct. 16, 2009.
