9 March 2017
China Sourcing Update: Transportation Cost (Feb 2017)
China Containerized Freight Index drops in February
The China Containerized Freight Index (CCFI) edged up from 876.10on 26 January to a 20-monthhigh of 877.89on 3 February, and then fell to 815.46on 24 February(see exhibit 1).
The main reason for the decline in freight rates in the month was seasonal fall in the market demand for containerized freight services after the Chinese New Year holidays.
According to the latest media reports, a number of carriers will cancel some sailings in the next few weeks. That being said, we expect the China Containerized Freight Index to continue to fall in the coming months, as the market demand for containerized freight services is likely to slow significantly further in the current low season.
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