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The composite China Containerized Freight Index (CCFI) stood at 1,389.16 points in Week 21, which picked up 5.9% from the previous week, according to the Shanghai Shipping Exchange (SSE). Meanwhile, the composite Shanghai Containerized Freight Index (SCFI) was more favorable, growing 9.2% to 2,707.43 points.

On the east-west trade lanes, the individual CCFIs increased across the board, going up 9.4% to 2,011.53 points to Europe, 4.7% to 2,568.46 points to the Mediterranean, 7% to 1,177.15 points to the U.S. West Coast and 7% to 1,183.38 points to the U.S. East Coast.

On the north-south routes, the CCFI fell 0.8% to 1,687.42 points to the Middle East Gulf and the Red Sea. In contrast, there was briskness on the other routes, with the indices rising 1.5% to 895.42 points to Australia and New Zealand, 8.8% to 1,187.02 points to South America, 12.9% to 1,212.94 points to Southern Africa and 18.3% to 994.04 points to East and West Africa.

In the intra-Asia waters, the CCFIs hiked 0.4% to 822.8 points to South East Asia but waned 1.2% to 735.55 points to Japan and 0.3% to 471.47 points to South Korea.

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


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