SHANGHAI – In a development likely to impact global supply chains, data obtained exclusively, from the Shanghai Shipping Exchange reveals a significant surge in China's export container shipping prices.
The China Containerized Freight Index (CCFI), a key benchmark for export shipping costs, jumped 20.9% in February compared to January. This substantial increase indicates rising transportation expenses for businesses exporting goods from China.
The data further shows that the sub-index for the West Coast America route experienced the most significant climb, with a month-on-month growth of 33.8%. The Europe route also witnessed a notable increase, while the sub-index for the Persian Gulf/Red Sea service bucked the trend with a slight decline of 1.8%.
The CCFI tracks both spot and contractual freight rates for twelve major shipping routes departing from Chinese container ports. This data is compiled from information provided by 22 international
shipping carriers, offering a comprehensive picture of the export shipping landscape.
This exclusive access to the Shanghai Shipping Exchange data allows to provide this critical update ahead of any official release. The significant increase in shipping costs, particularly for key routes like West Coast America and Europe, is likely to have a ripple effect on global trade, potentially impacting businesses and consumers worldwide.