News
The composite China Containerized Freight Index (CCFI) quoted 1,102.71 points in Week 14, down 0.8% from the previous week, according to the Shanghai Shipping Exchange (SSE). In contrast, the composite Shanghai Containerized Freight Index (SCFI) swelled 2.6% to 1,392.78 points, a week-on-week increase for two consecutive terms.
On the east-west trades, the individual CCFIs stood at 1,507.27 points on the route to Europe, up 1.3%; 1,952.19 points to the Mediterranean, down 1.3%; 776.61 points to the U.S. West Coast, down 3.6%; and 916.83 points to the U.S. East Coast, down 4.8%.
On the north-south routes, the CCFI increased 8.5% to 1,109.22 points to the Middle East Gulf and the Red Sea. The CCFIs decreased on all of the remaining lanes, going down 0.6% to 836.28 points to Australia and New Zealand, 3.3% to 639.4 points to South America, 4.7% to 937.45 points to Southern Africa and 1% to 796.29 points to East and West Africa.
Within Asia, the CCFI picked up 0.9% to 967.28 points to Japan but slid 1.1% to 955.66 points to Southeast Asia and 0.6% to 499.07 points to South Korea.
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.
