News
The composite China Containerized Freight Index (CCFI) stood at 811.5 points in Week 43, which fell 0.7% from the previous week and has kept on the decline for eight weeks in a row, according to the Shanghai Shipping Exchange (SSE). In contrast, the composite Shanghai Containerized Freight Index (SCFI) surged 10.3% to 1,012.6 points, which has been on the rise for three weeks running and returned to the 1,000-point line.
On individual east-west trade lanes, the CCFIs stayed flat at 939.27 points to Europe, waned 1.5% to 1,221.31 points to the Mediterranean, grew 1.4% to 718.34 points to the U.S. West Coast and slid 4.4% to 808.58 points to the U.S. East Coast.
On north-south routes, the CCFI went down 2.2% to 700.07 points to southern Africa but up 2.3% to 759.5 points to Australia and New Zealand, 3.2% to 871.81 points to the Middle East Gulf and the Red Sea, 4.3% to 602.44 points to South America and 7% to 549.15 points to eastern and western Africa.
The CCFIs were sluggish across the board in the intra-Asia waters, waning 5.7% to 780.81 points to Japan, 4% to 586.68 points to Southeast Asia and 1.3% to 436 points to South Korea.
The CCFI is an indicator for freight rates for container exports from China that are transported on medium- and long-term contract. It was set at a baseline of 1,000 points on Jan. 1, 1998. Meanwhile, the SCFI represents spot rates for container exports from Shanghai that do not include terminal handling charges (THCs). It was set at the same value on Oct. 16, 2009.
