The China Containerized Freight Index (CCFI) fell below 1,000 points for the first time in nearly two years, reaching 973.11 points in Week 42, according to the Shanghai Shipping Exchange (SSE) and Japan International Freight Forwarders Association (JIFFA). The index dropped 4.1% from the previous week.
In contrast, the Shanghai Containerized Freight Index (SCFI) continued its upward trend, rising 12.9% to 1,310.32 points, marking its second consecutive weekly gain.
On major east-west routes, freight rates declined across all lanes. The CCFI to Europe fell 1.5% to 1,267.91 points, while the Mediterranean route dropped 3.2% to 1,461.91 points. Rates to the U.S. West Coast plunged 6.7% to 725.45 points, and to the U.S. East Coast, they slipped 3.9% to 858.26 points.
North-south trades also weakened. The index to Australia and New Zealand declined 1.6%, to the Middle East and Red Sea down 11.1%, and to South America down 5.1%. Routes to Southern Africa and East/West Africa eased 0.9% and 2.5%, respectively.
Within Asia, mixed movements were seen. The South Korea route rose 1%, while Southeast Asia fell 4.2% and Japan dropped 5.6%.
The CCFI, launched in 1998 with a base of 1,000 points, tracks freight rates under long-term contracts for container exports from China. The SCFI, established in 2009, measures spot rates for shipments from Shanghai, excluding terminal handling charges.
