According to JIFFA, sourced from Korea Ocean Business Corp. (KOBC), the KOBC Container Composite Index (KCCI) slipped 3.67% to 1,993 points on Monday as spot rates for exports from Busan continued to weaken on major trades.
Rates declined across the main lanes: 6.16% to $1,904 per FEU to the U.S. West Coast, 7.01% to $2,996 to the U.S. East Coast, 5.13% to $3,110 to Europe, and 5.2% to $3,120 to the Mediterranean.
Some non-main lanes posted gains, including the west coast of Latin America (+5.42% to $2,995 per FEU), Southern Africa (+2.78% to $3,958), and Australia (+2.92% to $2,256). Declines occurred to the Middle East (-0.37%), east coast of Latin America (-8.2%), and West Africa (-2.62%).
In intra-Asia trades, rates edged up 0.45% to Japan, remained flat to China, and slipped 1.63% to Southeast Asia.
