BUSINESS Export container shipping index up in Jan.

BUSINESS

Export container shipping index up in Jan.

Xinhua

12:51, February 16, 2020

China's container transport for export purposes saw an overall increase in January, according to the Shanghai Shipping Exchange (SSE).

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

The average China Containerized Freight Index (CCFI) rose 10.3 percent month on month to stand at 927.91 last month, up from an average of 823.53 in 2019, said the SSE.

The freight rates of all routes were raised, buoying the container transport market last month.

The sub-indices for the Persian Gulf/Red Sea and Mediterranean routes led the increase, soaring by 31.4 percent and 30.6 percent, respectively.

The CCFI tracks spot and contractual freight rates from Chinese container ports for 12 shipping routes across the globe, based on data from 20 international carriers.

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

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