News
The latest KOBC Container Composite Index (KCCI) came to 4,659 points on Monday, going down 0.3% from a week earlier and remaining on the decline for six weeks in a row, Korea Ocean Business Corp. (KOBC) announced on the same day. Freight rates for container exports from Busan increased on the routes to North America and Australia but decreased elsewhere.
On the mainline routes, the individual KCCIs were up 4.62% to 6,636 points to the U.S. West Coast, 2.12% to 9,480 points to the U.S. East Coast but down 3.38% to 8,106 points to Europe and 3.59% to 7,032 points to the Mediterranean.
The KCCI picked up 8.94% to 3,240 points to Australia, the only non-mainline trade lane for the index to mark a week-on-week increase. On the other hand, the KCCIs waned 3.6% to 7,221 points to Southern Africa, 3.94% to 4,070 points to the Middle East, 3.08% to 8,181 points to the east coast of Latin America, 6.72% to 5,093 points to the west coast of Latin America and 0.94% to 6,519 points to West Africa.
In the intra-Asia waters, the KCCIs fell 2.14% to 1,460 points to Southeast Asia, 1.6% to 246 points to Japan and 1.89% to 52 points to China.
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.
