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China Sourcing Update (Transportation Cost) Dec 2016

China Containerized Freight Index rises in December

The China Containerized Freight Index (CCFI) fell from 777.13 on 25 November to 766.15 on 9 December, and then went up markedly to 811.14 on 30 December, the highest level since September 2015 (see exhibit 1).

The decline in freight rates in early December was caused by a seasonal fall in the market demand for containerized freight services. The rebound in freight rates afterwards was boosted by a surge in shipments as exporters rushed to send their goods out of China before the Chinese New Year holiday.

According to the latest media reports, a number of carriers raised freight rates in early January amid the improving demand, and the demand for containerized freight services is expected to remain strong before the Chinese New Year holiday. Thus, we expect the China Containerized Freight Index to rise further in the near future.

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Content provided by Fung Business Intelligence
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