The Valencia Containerised Freight Index (VCFI), which measures the trend and evolution of container transport costs by sea from the Port of Valencia, ended the financial year 2022 at 3,603 points, a year-on-year drop of 11.3% (December 2021 ended at 4,063 points).
The VCFI anticipates a total gain of 260% since the start of the historical series in January 2019.
The VCFI also showed distinct behaviour in two stages in 2022. Until August, the VCFI showed monthly gains, eventually hitting 4,918 points.
However, beginning in September, a sharp drop in the price of exports was noted until the conclusion of the fiscal year 2022 with 3,603 points, a trend that persisted in the first months of the current year 2023.
These figures were revealed at the Port of Valencia's Clock Building during the presentation of the annual report of the Valencia Containerised Freight Index (VCFI) for 2022.
An analysis of freight rates in the VCFI's main sub-indices (Western Mediterranean, Far East, and US and Canada) shows an upward trend in the first half of 2022, with a generalised fall in freight rates in the second half, in line with the evolution of the VCFI at a global level.
In the case of the Far East, the Index completed the year at 2,372 points, a reduction of 36.6% from December 2021, when it closed at 3,742 points.
In the Western Mediterranean, the VCFI concluded 2022 with 1,897 points, down 10.4% from 2,117 in 2021. It maintains in this range at the start of 2023, despite a minor reduction in the first four months.