News
The composite China Containerized Freight Index (CCFI) increased 3.4% from the previous week to 1,094.03 points in Week 46, the fourth consecutive week of growth, according to the Shanghai Shipping Exchange (SSE). Meanwhile, the composite Shanghai Containerized Freight Index (SCFI) decreased 2.9% to 1,451.38 points, the second consecutive week of decline.
On the east-west trades, the individual CCFIs stood at 1,403.64 points to Europe, up 2.7%; 1,601.86 points to the Mediterranean, up 5.6%; 846.24 points to west coast of North America; and 967.48 points to the east coast of North America, down 0.5%.
On the north-south routes, the CCFIs slid 0.9% to 678.24 points to South America but improved 2.8% to 1,208.81 points to Australia and New Zealand, 11.6% to 1,163.39 points to the Middle East and the Red Sea, 1.5% to 1,410.96 points to Southern Africa and 2.1% to 4,919.49 points East and West Africa, up 2.1%.
Within Asia, the CCFIs rose 5.1% to 871 points to Southeast Asia but waned 0,1% to 978.58 points to Japan and 1.5% to 479.94 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 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.
