China’s weekly export container shipping index rises

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China’s index of export container transport rose in the past week, according to the Shanghai Shipping Exchange.

The average China Containerized Freight Index (CCFI) stood at 777.36, up 0.1 percent from a week earlier, according to the exchange.

The sub-index for the Persian Gulf/Red Sea service led the increase with a week-on-week growth of 10.8 percent, followed by the Australia/New Zealand service, which rose 4.9 percent from last week.

The sub-index for the Korea service led the decline with a 3-percent slip from the previous week. The sub-readings for the Mediterranean and E/C America routes fell 2.6 percent and 1.6 percent, respectively.

The CCFI tracks spot and contractual freight rates from Chinese container ports for 14 shipping routes across the globe, based on data from 22 international carriers.

The index was set at 1,000 on Jan. 1, 1998.

(Source: Xinhua)

Sea News, October 29

Baibhav Mishra
Author: Baibhav Mishra