China's Weekly Export Container Shipping Index Down

Fahad Shabbir (@FahadShabbir) Published August 13, 2022 | 02:00 PM

SHANGHAI, Aug. 13 (UrduPoint / Pakistan Point News - 13th Aug, 2022 ) APP):China's index of export container transport declined in the week ending Friday, according to the Shanghai Shipping Exchange.

The average China Containerized Freight Index (CCFI) went down 2.9 percent to 3,073.28 from the previous week, according to the exchange.

The sub-index for the Persian Gulf/Red Sea service led the decrease with a week-on-week drop of 11.5 percent.

Bucking the trend, the sub-reading for the South Africa service rose 2.3 percent from a week earlier.

The CCFI tracks spot and contractual freight rates from Chinese container ports for 12 shipping routes across the globe, based on data from 22 international carriers.

The index was set at 1,000 on Jan. 1, 1998