23.05.02CCFI Turns Upward in Week 17

The composite China Containerized Freight Index (CCFI), an indicator for containers exported from China on medium- and long-term contracts that was set at 1,000 points on Jan. 1, 1998, stood at 964.49 points in Week 17, the Shanghai Shipping Exchange unveiled last week. Rising 3.2% from the previous week, the index turned upward after suffering declines for 10 consecutive weeks.

Looking at index developments on individual routes, the CCFIs were favorable across the board, going up 1.9% to 1,183.36 points to Europe, up 2% to 1,692.45 points to the Mediterranean, up 6.9% to 723.27 points to the west coast of North America and up 6.4% to 923.24 points to the east coast of North America.

Meanwhile, the composite Shanghai Containerized Freight Index (SCFI), which applies to spot rates for container exports from Shanghai that do not include terminal handling charges (THCs) that was set at the same value on Oct. 16, 2009, fell 3.8% to 997.73 points. It was the first decline in five weeks.