News
The latest KOBC Container Composite Index (KCCI) quoted 2,323 points, Korea Ocean Business Corp. (KOBC) announced yesterday. Spot rates for container exports from Busan declined almost across the board, making the composite index fall a notable 8.18% from a week earlier, although rates for containers to China stayed flat.
On the main lanes, the individual KCCIs stood at 3,305 points to the U.S. West Coast, down 15.1%; 4,390 points to the U.S. East Coast, down 12.55%; 2,904 points to Europe, down 6.26%; and 3,931 points to the Mediterranean, down 4.66%.
On the non-main lanes, the KCCIs came to 2,261 points to the Middle East, down 0.04%; 2,584 points to Australia, down 8.66%; 3,732 points to the east coast of Latin America, down 3.89%; 2,658 points to the west coast of Latin America, down 4.01%; 3,810 points to Southern Africa, down 1.27%; and 3,841 points to West Africa, down 0.98%.
In the intra-Asia waters, the KCCIs closed at 49 points to China, unchanged; 249 points to Japan, down 1.97%; and 1,157 points to Southeast Asia, down 0.94%.
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.
