Japan International Freight Forwarders Association (JIFFA) reported that the KOBC Container Composite Index (KCCI) fell to 2,069 points on Monday, down 2.91% from last week, according to Korea Ocean Business Corp.
Spot rates from Busan to Europe and the U.S. continued to decline. The index for the U.S. West Coast slipped 2.92% to US$2,029 per FEU. The U.S. East Coast route saw a bigger drop, down 5.57% to US$3,222. Rates to Europe fell 2.21% to US$3,278, while the Mediterranean route eased 2.98% to US$3,291.
Non-main lanes saw mixed movements. Australia rose 3.98% to US$2,191 per FEU, Latin America’s west coast gained 1.12% to US$2,803, and Southern Africa edged up 0.76% to US$3,851. Meanwhile, the Middle East slipped 1.33% to US$2,449. The east coast of Latin America plunged 8.67% to US$4,790, and West Africa declined 1.2% to US$4,612.
In intra-Asia trade, Japan routes jumped 4.76% to US$220 per FEU. But Southeast Asia dropped 1.51% to US$979, and China routes fell 1.96% to US$50.
