News
The composite China Containerized Freight Index (CCFI) quoted 1,211.08 points in Week 16, up 0.1% from the previous week, according to the Shanghai Shipping Exchange (SSE). Meanwhile, the composite Shanghai Containerized Freight Index (SCFI) turned negative after three consecutive weeks of growth, going down 0.2% to 1,886.54 points.
On the east-west trades, the individual CCFIs stood at 1,583.41 points to Europe, up 0.1%; 2,020.32 points to the Mediterranean, down 0.9%; 871.05 points to the west coast of North America, up 2%; and 1,008.05 points to the east coast of North America, up 4.54%.
On the north-south routes, the CCFIs were up 8.3% to 1,683.1 points to the Middle East Gulf and the Red Sea but up 4.2% to 937.52 points to Australia and New Zealand, up 1.3% to 758.88 points to South America, up 5.6% to 1,187.76 points to Southern Africa, and up 2.4% to 933.71 points to East and West Africa.
Within Asia, the CCFIs were up 3.5% to 927.52 points to Southeast Asia, up 3.9% to 581.61 points to South Korea, but down 1.8% to 949.58 points to Japan.
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. 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.
