News
The latest KOBC Container Composite Index (KCCI) quoted 2,711 points on Monday, according to Korea Ocean Business Corp. (KOBC). Spot rates for container exports from Busan plunged on the trade to the U.S. West Coast, making the index fall 4.1% from a week earlier.
On the main lanes, individual KCCIs stood at 3,963 points to the U.S. West Coast, down 19.47%; 6,195 points to the U.S. East Coast, down 2.93%; 2,932 points to Europe, down 9.53 points; and 4,490 points to the Mediterranean, down 0.95%.
On the non-main lanes, KCCIs increased 0.9% to 1,676 points to Australia, 3.94% to 2,636 points to the Middle East, 17.93% to 4,841 points to the east coast of Latin America and 7.48% to 4,280 points to West Africa. On the other hand, the indices decreased 10.1% to 3,978 points to the west coast of Latin America and 3.08% to 2,930 points to Southern Africa.
Within Asia, KCCIs improved 4.35% to 48 points to China but slid 1.15% to 1,119 points to Southeast Asia and 0.41% to 243 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.
