Container spot rates out of Busan climbed broadly last week. The KOBC Container Composite Index (KCCI) reached 1,879 points on Monday, up 6.34% from the previous week, according to Korea Ocean Business Corporation (KOBC) and as Japan International Freight Forwarders Association (JIFFA) reported.
Rates rose on most main trade lanes. The US West Coast index edged up 0.49% to 2,046 points. The US East Coast gained 1.72% to 3,013 points. Europe surged 6.31% to 2,461 points. The Mediterranean led main lane gains, jumping 10.93% to 3,573 points.
Non-main lanes told a similar story. The Middle East posted the sharpest rise, up 21.51% to 4,401 points. Latin America’s east coast climbed 13.63% to 2,701 points. West Africa gained 9.56% to 3,517 points. Southern Africa added 4.52% to 2,796 points. Latin America’s west coast rose 4.97% to 2,765 points. Australia was the sole decliner, falling 5.51% to 1,492 points.
Intra-Asian rates held mostly steady. Southeast Asia rose 4.28% to 902 points. China edged up 1.96% to 52 points. Japan remained flat at 220 points.
The KCCI tracks spot rates for container exports from Busan across 13 major destinations, including terminal handling and other charges. The composite index represents a weighted average of all 13 individual indices.
