New data released by the Shanghai Shipping Exchange reveals a decrease in China’s export container shipping price index for the month of July.
According to the shipping exchange, the average China Containerized Freight Index (CCFI) for last month was recorded at 869.89, representing a 5.3 percent decline from June.
Among the sub-indices, the Korea service demonstrated the most significant drop, experiencing a month-on-month decrease of 13 percent. This was followed by the Europe service and Mediterranean service, which saw declines of 6.9 percent and 6.5 percent, respectively.
The CCFI meticulously monitors spot and contractual freight rates originating from Chinese container ports across 12 vital shipping routes worldwide. The data used for this index is sourced from 22 reputable international carriers.
Established with a baseline of 1,000 on January 1, 1998, the index provides valuable insights into the dynamics of container shipping prices over time.