News
The composite China Containerized Freight Index (CCFI) quoted 1,465.16 points in Week 49, down 0.6% from the previous week for the first decline in six weeks, according to the Shanghai Shipping Exchange (SSE). In contrast, the composite Shanghai Containerized Freight Index (SCFI) increased 1% to 2,256.46 points, registering a year-on-year improvement for the second week in a row.
On the east-west trade lanes, the individual CCFIs stood at 2,070.81 points to Europe, up 2%; 2,487.6 points to the Mediterranean, up 0.8%; 1,023.64 points to the U.S. West Coast, down 5.5%; and 1,224.28 points to the U.S. East Coast, down 1.9%.
The CCFI decreased across the board on the north-south routes, going down 1.1% to 1,423.07 points to the Middle East Gulf and the Red Sea, 4.7% to 1,452.55 points to Australia and New Zealand, 5.2% to 1,017.32 points to South America, 5.1% to 1,794.02 points to Southern Africa and 3.9% to 1,119.34 points to East and West Africa.
In the intra-Asia waters, the CCFI picked up 3.5% to 961.13 points to Japan, 1.7% to 1,279.83 points to Southeast Asia and 3.8% to 520.38 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.
