News
The composite China Containerized Freight Index (CCFI) stood at 1,505.1 points in Week 4, down 3.4% from the previous week, according to the Shanghai Shipping Exchange (SSE). Meanwhile, the composite Shanghai Containerized Freight Index (SCFI) quoted 2,045.45 points, down 4%.
On the east-west trade, the individual CCFIs came to 2,122.19 points to Europe, down 5.8%; 2,682.41 points to the Mediterranean, down 4.5%; 1,217.46 points to the U.S. West Coast, up 1.6%; and 1,293.65 points to the U.S. East Coast, down 3.1%.
On the north-west route, the CCFI amounted to 1,093.91 points to East and West Africa, up 4.7%; 909.18 points to South America, down 7.3%; 1,260.01 points to Australia and New Zealand, down 9.2%; 1,369.25 points to the Middle East Gulf and the Red Sea; and 1,493,71 points to Southern Africa, down 3.5%.
In the intra-Asia waters, the CCFIs picked up 3.6% to 508.4 points to South Korea, levelled off at 984.92 points to Japan and slid 4.5% to 1,170.81 points to Southeast Asia.
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.
