BUSINESS China's weekly export container shipping index dips

BUSINESS

China's weekly export container shipping index dips

Xinhua

15:01, April 11, 2020

Ships get ready for their voyages in the foreign trade container terminal of Qingdao port in Shandong province. (Photo: China Daily)

BEIJING - China's index of export container transport edged down in the past week, according to the Shanghai Shipping Exchange.

The average China Containerized Freight Index (CCFI) stood at 886.26, down 1.1 percent from a week earlier, according to the exchange.

The sub-reading for the Korea service led the increase with a week-on-week growth of 3.8 percent, followed by those for Australia/New Zealand service and west coast America route, which rose 2.4 percent and 1.3 percent, respectively, from last week.

The sub-index for Persian Gulf/Red Sea service led the decline by an 2.8-percent fall from the previous week, while that for South America service dropped 2.7 percent.

The CCFI tracks spot and contractual freight rates from Chinese container ports for 12 shipping routes across the globe, based on data from 22 international carriers.

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

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