News
The composite China Containerized Freight Index (CCFI) quoted 1,117.61 points in Week 22, up 0.1% from the previous week for a week-on-week rise for two back-to-back weeks, the Shanghai Shipping Exchange announced last Friday.
On the east-west trades, the individual CCFIs decreased 1.2% to 1,375.62 points to Europe and 0.4% to 1,798.19 points to the Mediterranean but increased 4% to 944.06 points to the U.S. West Coast and 9.3% to 1,085.11 points to the U.S. East Coast.
On the north-south trade lanes, the CCFIs went up 7.7% to 616.71 points to South America and 1.9% to 866.07 points to East and West Africa. In contrast, the CCFIs slid 0.8% to 888.85 points to Australia and New Zealand, 0.2% to 930.3 points to Southern Africa and 2.4% to 1,147.14 points to the Middle East Gulf and the Red Sea.
In the intra-Asia waters, the CCFIs fell 7% to 944.06 points to Japan but picked up 3.4% to 961.73 points to Southeast Asia and 5.2% to 534.11 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.
