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China's containerised freight index drops 5.3% in July 2023

17 Aug '23
1 min read
Pic: Shutterstock
Pic: Shutterstock

Insights

  • The China Containerized Freight Index (CCFI) dropped 5.3 per cent to 869.89 in July 2023, as per Shanghai Shipping Exchange data.
  • The decline was led by the Korea service, falling 13 per cent, followed by Europe and Mediterranean services, which dropped 6.9 per cent and 6.5 per cent respectively.
  • The CCFI tracks rates from Chinese ports on 12 global routes.
The China Containerized Freight Index (CCFI) has experienced a decline of 5.3 per cent in July 2023, dropping to 869.89, according to data from the Shanghai Shipping Exchange.

This decrease has been led by the sub-reading for the Korea service, which saw a significant month-on-month drop of 13 per cent. Closely following were the Europe service and Mediterranean service, falling by 6.9 per cent and 6.5 per cent, respectively.

The CCFI is an essential index that monitors both spot and contractual freight rates from Chinese container ports. It analyses the data across 12 global shipping routes, utilising information provided by 22 international carriers.

ALCHEMPro News Desk (DP)
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