News
The composite China Containerized Freight Index (CCFI) reached 2,153.56 points in Week 29, up 3.3% from the previous week, according to the Shanghai Shipping Exchange (SSE). In contrast, the composite Shanghai Containerized Freight Index (SCFI) fell 3.6% to 3,542.44 points, which has trended down for two consecutive weeks.
Looking at individual index fluctuations, the CCFIs improved 7.3% to 3,520.95 points to Europe, 4.9% to 3,654.79 points to the Mediterranean and 10% to 1,900.11 points to the U.S. East Coast. On the other hand, the CCFI did not do well on the route to the U.S. West Coast, decreasing 2.2% to 1,650.86 points.
The CCFIs went up 0.5% to 1,854.89 points to South America, 4.3% to 2,454.89 points to Southern Africa and 1.8% to 1,062 points to Australia and New Zealand. However, the CCFIs declined 7.2% to 2,153.25 points to the Middle East Gulf and the Red Sea and 0.8% to 1,404.98 points to East and West Africa.
Within Asia, the CCFIs picked up 0.6% to 779 points to Japan, 6.2% to 1,377.61 points to Southeast Asia and 8% to 538.06 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.
