China's export container shipping price index saw an increase of 14.3 per cent month-on-month (MoM) in May 2024, according to data from the Shanghai Shipping Exchange. The average China Containerized Freight Index (CCFI) for May stood at 1,358.71.Among the various shipping services, the West Africa service experienced the most substantial growth, with a month-on-month increase of 53.3 per cent. This was followed by the South America service, which saw a 50.6 per cent rise, and the South Africa service, which recorded a 29.6 per cent increase compared to the previous month.
The CCFI monitors spot and contractual freight rates from Chinese container ports across 12 global shipping routes, utilising data from 22 international carriers.
In May 2024, China's export container shipping price index increased by 14.3 per cent month-on-month (MoM), reaching an average CCFI of 1,358.71, according to the Shanghai Shipping Exchange. The West Africa service saw the highest growth in May at 53.3 per cent MoM, followed by South America at 50.6 per cent and South Africa at 29.6 per cent.
Fibre2Fashion News Desk (DP)
