News
The composite China Containerized Freight Index (CCFI) stood at 1,733.47 points in Week 24, according to the Shanghai Shipping Exchange (SSE). Spot rates for container exports from China mostly increased, leading to a week-on-week improvement of 8.8%. Meanwhile, the composite Shanghai Containerized Freight Index (SCFI) rose 6.1% to 3,379.22 points.
On the east-west routes, the individual CCFIs picked up 9% to 2,548.88 points to Europe, 7.4% to 3,070.58 points to the Mediterranean, 9.6% to 1,367.66 points to the U.S. West Coast and 7.8% to 1,473.05 points to the U.S. East Coast.
On the north-south trades, the CCFIs rose 0.4% to 978.09 points to Australia and New Zealand, 11% to 2,170.72 points to the Middle East Gulf and the Red Sea, 7.9% to 1,483.87 points to South America, 27% to 1,961.56 points to Southern Africa and 8.3% to 1,430.41 points to East and West Africa.
Within Asia, the CCFIs swelled 11.9% to 1,039.76 points to Southeast Asia but fell 1.9% to 708.33 points to Japan and 3.9% to 466.9 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.
