News
The latest KOBC Container Composite Index (KCCI) quoted 2,530 points, down 6.05% from a week earlier, Korea Ocean Business Corp. (KOBC) announced yesterday. Freight rates for container exports from Busan declined on most of the trade lanes from the port.
The individual KCCIs decreased across the board on the main lanes, down 9.44% to 3,893 points on the trade to the U.S. West Coast, 8.06% to 5,020 points to the U.S. East Coast, 6.69% to 3,098 points to Europe and 5.07% to 4,123 points to the Mediterranean.
On the non-main lanes, the KCCIs jumped 11.65% to 2,769 points to the west coast of Latin America but fell 5.8% to 3,883 points to the east coast of Latin America, 1.14% to 2,262 points to the Middle East, 11.21% to 2,829 points to Australia, 4% to 3,859 points to Southern Africa and 1.5% to 3,879 points to West Africa.
Within Asia, the KCCIs remained unchanged at 49 points to China but waned 0.78% to 254 points to Japan and 0.93% to 1,168 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 movements and other factors on the 13 trades.
