Chinese container freight rates rise

Business | 24 Jun 2019 2:18 pm

China's container transport fees for exports increased for the week ending Friday, according to the Shanghai Shipping Exchange.

The average China Containerized Freight Index (CCFI) stood at 818.83, up by 0.9 percent from a week earlier, the exchange said.

The sub-index for South Africa service rallied by 3.7 percent to 593.23 week on week, while that for west and east Africa service declined 2.4 percent to 752.51. Persian Gulf/Red Sea service gained by 7.3 percent to 938.75 week on week.

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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