News
The latest KOBC Container Composite Index (KCCI) quoted 1,773 points on Monday, Korea Ocean Business Corp. (KOBC) announced on the same day. Spot rates for container exports from Busan continued to fall on most trade lanes, except for those to the west coast of Latin America, where there was an increase, and to China and Japan, where they stayed flat. The composite index, as a result, declined 2.85% from a week earlier.
The individual KCCIs slid across the board on the main lanes, going down 1.12% to 2,291 points to the U.S. West Coast, 0.61% to 3,236 points to the U.S. East Coast, 7.19% to 2,245 points to Europe and 5.4% to 3,116 points to the Mediterranean.
On the non-main lanes, the KCCIs picked up 0.05% to 1,878 points to the west coast of Latin America but fell 0.71% to 2,225 points to the Middle East, 6.27% to 1,795 points to Australia, 8.23% to 2,431 points to the east coast of Latin America, 1.96% to 3,154 points to Southern Africa and 2.56% to 3,241 points to West Africa.
Within Asia, the KCCIs remained unchanged at 49 points to China and 244 points to Japan but waned 0.09% to 1,165 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.
