News
The composite China Containerized Freight Index (CCFI) closed at 1,191.69 points in Week 11, down 1.6% from the previous week, the Shanghai Shipping Exchange (SSE) announced last Friday. The composite Shanghai Containerized Freight Index fell a more significant 8.1% to 1,318.34 points.
On the east-west trades, the individual CCFIs stood at 1,522.61 points to Europe, up 1.6%; 2,075.75 points to the Mediterranean; 923.48 points to the U.S. West Coast, down 4.1%; and 1,040.09 points to the U.S. East Coast, down 1.9%.
The CCFI slid across the board on the north-south routes, going down 6.5% to 841.79 points to Australia and New Zealand, 3.8% to 1,138.3 points to the Middle East Gulf and the Red Sea, 6.8% to 742.44 points to South America, 7.2% to 1,123.62 points to Southern Africa and 4% to 845.93 points to West and East Africa.
Within Asia, the CCFIs fell 0.9% to 970.45 points to Japan and 5% to 480,83 points to South Korea but picked up 1% to 961.96 points to Southeast Asia.
The CCFI is an indicator for freight rates for container exports from China that are transported on medium- and long-term contracts, which was set at a baseline of 1,000 points on Jan. 1, 1998. 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.
