News
The latest KOBC Container Composite Index (KCCI) stood at 1,950 points on Monday, Korea Ocean Business Corp. (KOBC) announced on the same day. The composite index fell 8.88% from a week earlier as spot rates for container exports from Busan declined across the board on the main and non-main lanes, although they stayed flat in the intra-Asia waters.
On the main lanes, the individual KCCIs amounted to 2,495 points to the U.S. West Coast, down 11.93%; 3,378 points to the U.S. East Coast, down 9.58%; 2,552 points to Europe, down 13.29%; and 3,679 points to the Mediterranean, down 5.93%.
On the non-main lanes, the KCCIs came to 2,271 points to the Middle East, down 2.45%; 2,171 points to Australia, down 6.3%; 2,160 points to the west coast of Latin America, down 10.6%; 2,952 points to the east coast of Latin America, down 13.13%; 3,321 points to Southern Africa, down 5.81%; and 3,491 points to West Africa, down 4.62%.
Within Asia, the KCCIs improved 0.6% to 1,176 points to Southeast Asia but remained unchanged at 49 points to China and 248 points to Japan.
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.
