News
The composite China Containerized Freight Index (CCFI) quoted 1,250.65 points in Week 9, down 5.2% from the previous week, the Shanghai Shipping Exchange (SSE) announced last Friday. The composite Shanghai Containerized Freight Index (SCFI) fell 5% to 1,515.29 points.
The individual CCFIs decreased across the board on the east-west trades, going down 5.8% to 1,688.04 points to Europe, 8.8% to 2,144.64 points to the Mediterranean, 6.8% to 997.46 points to the U.S. West Coast and 8.3% to 1,107.7 points to the U.S. East Coast.
On the north-south trade lanes, the CCFI picked up 5.2% to 1,205.79 points to the Middle East Gulf and the Red Sea but waned 6.4% to 942.38 points to Australia and New Zealand, 0.5% to 817.58 points to South America, 10.2% to 1,254.06 points to Southern Africa and 9.2% to 836.54 points to East and West Africa.
Within Asia, the CCFIs improved 1.1% to 990.23 points to Japan but declined 3.1% to 972.9 points to Southeast Asia and 0.4% to 500.48 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.
