News
The latest KOBC Container Composite Index (KCCI) came to 4,467 points on Monday, down 1.39% from a week earlier, which has remained on the decline for eight straight weeks, Korea Ocean Business Corp. announced on the same day. The comprehensive index was bearish as freight rates for container exports from Busan decreased across the board.
On the main-lane routes from Busan, the individual KCCIs fell 0.11% to 6,369 points to the U.S. West Coast, 1.14% to 9,054 points to the U.S. East Coast, 4.31% to 7,479 points to Europe and 4.52% to 6,534 points to the Mediterranean.
On the non-main-lane trade lanes, the KCCIs improved 5.72% to 3,621 points to Australia and 5.81% to the west coast of Latin America. On the other hand, the KCCIs declined 2.41% to 6,957 points to Southern Africa, 2.18% to 6,381 points to West Africa, 3.81% to 3,788 points to the Middle East and 1.64% to 7,821 points to the east coast of Latin America.
In the intra-Asia waters, the KCCIs increased 1.6% to 254 points to Japan, stayed flat at 52 points to China and slid 2.97% to 1,438 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.
