News
The KOBC Container Composite Index (KCCI) stood at 1,332 points on Monday, the Korea Ocean Business Corp. (KOBC) unveiled on the same day. The latest index was down 2.2% from a week earlier due to declines in spot rates on several trade lanes. It has remained on a downward trend for three weeks in a row.
Spot rates for container exports from Busan decreased across the board on east-west trade lanes. They went down 2.14% to $1,964 per FEU to the U.S. West Coast, 2.24% to $2,910 per FEU the U.S. East Coast, 4.12% to $1,303 per FEU to Europe and 4.25% to $2,007 per FEU to the Mediterranean.
On north-south routes, ex-Busan spot rates jumped 11.18% to $925 per FEU to Australia and improved a more modest 1.94% to $1,524 per FEU to southern Africa. In contrast, they fell 1.62% to $1,578 per FEU to the Middle East, 3.12% to $2,394 per FEU to the east coast of South America, 3.77% to $2,247 per FEU to the west coast of South America and 0.04% to $1,524 per FEU to western Africa.
In intra-Asia waters, spot rates for containers from Busan remained dull to China, waning 2.94% to $33 per FEU, while they were weak to Japan and Southeast Asia as well, sliding 3.07% to $221 per FEU and 0.69% to $288 per FEU, respectively.
