News
The composite China Containerized Freight Index (CCFI) fell below the 1,000-point line for the first time since December 2023 in Week 42, according to the Shanghai Shipping Exchange (SSE). The index quoted 973.11 points, down 4.1% from the previous week. Meanwhile, the composite Shanghai Containerized Freight Index (SCFI) stood at 1,310.32 points, up 12.9%, a week-on-week increase for the second consecutive week.
On the east-west trades, the individual CCFIs amounted to 1,267.91 points to Europe, down 1.5%; 1,461.91 points to the Mediterranean, down 3.2%; 725.45 points to the U.S. West Coast, down 6.7%; and 858.26 points to the U.S. East Coast, down 3.9%.
On the north-south routes, the CCFIs came to 1,065.66 points to Australia and New Zealand, down 1.6%; 857.38 points to the Middle East and the Red Sea, down 11.1%; 628.32 points to South America, down 5.1%; 1,372.7 points to Southern Africa, down 0.9%; and 857.3 points to East and West Africa, down 2.5%.
Within Asia, the CCFIs were 491.16 points to South Korea, up 1%; 7,751.08 points to Southeast Asia, down 4.2%; and 946.31 points to Japan, down 5.6%.
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 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 the same value on Oct. 16, 2009.
