News
The latest KOBC Container Composite Index (KCCI) quoted 1,785 points on Monday, according to Korea Ocean Business Corp. (KOBC). Spot rates for container exports from Busan decreases on most trades-except for those to the U.S. and Australia-urging the index to decline 6.79% from a week earlier, a week-on-week contraction for the second straight term.
The individual KCCIs were sluggish across the board on the main lanes, going down 12.06% to $2,019 per FEU to the U.S. West Coast, 7.04% to $3,308 per FEU to the U.S. East Coast, 10.07% to $2,126 per FEU to Europe and 10.44% to $2,427 per FEU to the Mediterranean.
On the non-main lanes, the KCCIs improved 1.64% to $2,537 per FEU to Australia and 1.07% to $3,979 per FEU to Southern Africa. On the other hand, the indices diminished 0.39% to $2,293 per FEU to the Middle East, 3.68% to $3,323 per FEU to the east coast of Latin America, 14.05% to $2,429 per FEU to the west coast of Latin America and 2.6% to $3,927 per FEU to West Africa.
In the intra-Asia waters, the KCCIs stayed flat at $219 per FEU to Japan and $50 per FEU to China but dropped 1.79% to $880 per FEU to South East 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 a weighted average of the 13 individual indices, which reflect container movements and other factors on the 13 trades.
