China’s export container shipping price index soars in January

China’s export container shipping price index jumped 36.2 percent month on month in January 2024, data from the Shanghai Shipping Exchange showed.

The average China Containerized Freight Index (CCFI) stood at 1,191.91 last month, according to the shipping exchange.

The sub-reading for the Europe service recorded the largest increase, with month-on-month growth of 74.3 percent.

It was followed by the Mediterranean service and the Persian Gulf/Red Sea service, which climbed 72.1 percent and 40.4 percent, respectively, compared with the previous month.

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

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

Source: Xinhua

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