News
The latest KOBC Container Composite Index (KCCI), a South Korean index for freight rates for container exports from Busan, reached 5,135 points on Monday, Korea Ocean Business Corp. (KOBC) announced on the same day. The composite index grew 7.47% from a week earlier as the individual indices increased on all trade routes but that to West Africa. The composite index has continued to rise for 12 consecutive weeks.
On the mainline routes from Busan, the individual KCCIs went up 8.56% to 7,851 points to the U.S. West Coast, 13.17% to 9,664 points to the U.S. East Coast, 9.66% to 8,221 points to Europe and 4.73% to 7,834 points to the Mediterranean.
On the non-mainline trades, the KCCIs picked up 2.31% to 4,471 points to the Middle East, 0.72% to 2,802 points to Australia, 5.88% to ),332 points to the east coast of Latin America, 1.11% to 7,618 points to the west coast of Latin America, 1.35% to 7,898 points to Southern Africa but fell 5.43% to 7,938 points to West Africa.
In the intra-Asia waters, the KCCIs rose 8.33% to 52 points to China, 4.6% to 250 points to Japan and 31.51% to 1,369 points to Southeast Asia.
KOBC unveils the comprehensive and individual KCCIs for spot rates for container exports from Busan to U.S., Europe and 11 other major destinations that include terminal handling and other charges. The comprehensive index is the weighted average of the 13 individual indices, which reflect container movement and other factors on the 13 trades.
