SIMIC

SCFI, provided by Shanghai Shipping Exchange (SSE), has achieved several records in 2021, while in May it crossed the US$3,000/TEU milestone for the first time, and in the last week, the index marked its new all-time high.

Additionally, SSE has unveiled that the composite China Containerised Freight Index (CCFI) also hit an all-time record, standing at 2,771.54 points in the last week, growing 2.7 per cent from the previous week and registering a week-on-week improvement for the 13th consecutive week.

According to Japan International Freight Forwarders Association (JIFFA), CCFI fluctuations on east-west routes show that indices for containers destined to the east and west coasts of North America went down 0.7 per cent to 2,170.8 points and 4.3 per cent to 1,840.64 points, respectively. In contrast, the indices for those to Europe and the Mediterranean climbed 6.1 per cent to 4,702.86 points and 3.1 per cent to 5,341.5 points, respectively.

Furthermore, on north-south trades, the CCFIs picked up 2 per cent to 3,380.75 points for container exports to the Middle East Gulf and the Red Sea, 8.3 per cent to 1,888.69 points for those to Australia and New Zealand, 5.1 per cent to 2,324.31 points for those to South America, 2.2 per cent to 2,546.5 points for those to southern Africa and 10.5 per cent to 2,086.82 points for those to western and eastern Africa.

On intra-Asia trade routes, the CCFI for containers to Japan rose 0.5 per cent to 911.65 points and for those to Southeast Asia, 2.5 per cent to 1,350.7 points, while for those to South Korea, on the other hand, the index sank 2.9 per cent to 884.8 points, according to JIFFA.