The KOBC Container Composite Index (KCCI) increased 4.62% during the latest reporting period as container spot rates from Busan rose on almost every trade lane, as Japan International Freight Forwarders Association (JIFFA) reported.
According to the Korea Ocean Business Corp. (KOBC), the index reached 3,920 points, approaching the 4,000-point mark. Export rates increased across all major routes except China.
On the main east-west trades, the KCCI to the US West Coast rose 4.19% to 5,969 points. The index to the US East Coast climbed 5.64% to 7,217 points.
The index to Europe increased 3.37% to 4,720 points, while the Mediterranean route gained 1.87% to 5,876 points.
Several secondary trades posted even stronger growth.
The index to the Middle East rose 1.53% to 6,783 points. The Australia trade recorded the biggest increase, jumping 10.06% to 3,096 points.
The East Coast of Latin America gained 7.3% to 7,854 points. The West Coast of Latin America increased 8.55% to 5,840 points.
Meanwhile, rates to Southern Africa rose 2.62% to 3,483 points, while West Africa advanced 4.26% to 5,260 points.
Within Asia, the index to Japan increased 3.74% to 222 points. Rates to Southeast Asia edged up 0.18% to 1,098 points. The China route remained unchanged at 54 points.
The latest figures indicate that container freight rates from Busan continue to strengthen across most international trade lanes despite mixed conditions in the intra-Asia market.
