News
The KOBC Container Composite Index (KCCI) stood at 2,145 points in Week 15, which fell 0.19% from the previous week and has continued to decrease for 10 consecutive weeks, according to Korea Ocean Business Corp. (KOBC). Freight rates for container exports from Busan were mostly stable but sluggish on the route to the U.S. and elsewhere, which led to the week-on-week decline in the composite index.
Ex-Busan freight rates went down 3.07% to $3,219 per FEU to the U.S. West Coast and 3.63% to $4,111 per FEU to the East Coast. To Europe and the Mediterranean, on the other hand, they went up 0.61% to $3,378 per FEU and 0.05% to $3,932 per FEU, respectively.
On north-south routes, freight rates for container exports from Busan fell 0.39% to $2,836 per FEU and 4.6% to $1,594 per FEU to Australia. In contrast, they improved 9.44% to $3,477 per FEU to the east coast of South America, 5.7% to $2,764 per FEU to the west coast of South America, 1.22% to $2,156 per FEU to Southern Africa and 4.05% to $2,185 per FEU to West Africa.
Within Asia, ex-Busan container rates picked up 3.89% to $481 per FEU to Southeast Asia and 0.54% to $187 per FEU to Japan. To China, they stayed flat at $38 per FEU.
