News
The latest KOBC Container Composite Index (KCCI) closed at 2,216 points on Monday, which went down 4.73% from a week earlier and has trended down for eight weeks in a row, Korea Ocean Business Corp. (KOBC) announced yesterday. Spot rates for container exports from Busan increased on the route to the east coast of South America, remained nearly unchanged within Asia and decreased elsewhere.
The KCCI is made up of the comprehensive index and per-FEU spot rates for container exports from Busan to the U.S., Europe and 11 other destinations that include terminal handling and other charges. The comprehensive index is the weighted average of the 13 spot rates, which reflect container movement and other factors on the 13 trades.
Looking at ex-Busan spot rates on east-west routes, they decreased 6.5% to $3,594 per FEU to the U.S. West Coast, 7.99% to $4,721 per FEU to the U.S. East Coast, 4% to $3,385 per FEU to Europe and 4.57% to $3,927 per FEU to the Mediterranean. ,
On north-west trade lanes, spot rates for container exports from Busan improved 0.07% to $2,943 per FEU to the east coast of South America but declined 1.56% to $2,332 per FEU to the west coast of South America, 0.21% to $2,864 per FEU to the Middle East, 3.05% to $1,809 per FEU to Australia and 2.09% to $2,108 per FEU to West Africa.
In the intra-Asia waters, spot rates for ex-Busan containers picked up 1.61% to $443 per FEU to Southeast Asia and levelled off at $184 per FEU to Japan and $39 per FEU to China.
