23.06.13CCFI Slides for 5 Straight Weeks

The composite China Containerized Freight Index (CCFI) slid 1% from the previous week to 921.48 points in Week 23, staying on a downward trend for five weeks in a row, according to the Shanghai Shipping Exchange (SSE).

Looking at fluctuations on individual trade routes, the CCFIs went down 1.3% to 1,134.35 points on that to Europe, up 0.3% to 1,688.84 points to the Mediterranean, down 2.8% to 679.75 points to the west coast of North America and down 1.4% to 857.79 points to the east coast of North America.

On north-south routes, the CCFIs increased 1.5% to 584.71 points for exports to eastern and western Africa and 0.1% to 1,118.06 points to the Middle East Gulf and the Red Sea. In contrast, the CCFIs declined 3.2% to 581.04 points for shipments to Australia and New Zealand, 2.7% to 720.05 points to South America and 0.5% to 762.29 points to southern Africa.

In intra-Asia waters, the CCFIs waned 0.1% to 869.94 points on the trade to Japan and 6.4% to 521.25 points to South Korea but picked up 1.6% to 618.15 points to Southeast Asia.

Meanwhile, the composite Shanghai Containerized Freight Index (SCFI) fell 3.8% to 979.85 points, returning to negative growth after making improvements for previous two consecutive weeks.

The CCFI, an indicator for freight rates for container exports from China that are transported on medium- and long-term contracts, was set at 1,000 points on Jan. 1, 1998, while the SCFI, an indicator for spot rates for ex-Shanghai containerized shipments that do not include terminal handling charges (THCs), was set at the same value on Oct. 16, 2009.