2 Aug 2017
China Sourcing Update-Transportation Cost (Jul 2017)
China Containerized Freight Index goes up further in July
The China Containerized Freight Index (CCFI) rose from 851.60 on 30 June to a fivemonth high of 877.33 on 21 July, before retreating a bit to 874.38 on 28 July (see exhibit 1).
In our view, the rise in the index was due largely to an improved market demand for containerized freight services in the month, in particular for North American routes.
According to the latest media reports, the demand for containerized freight services is likely to remain strong in the current high season, and a number of carriers have raised freight rates recently. Thus, we expect that the China Containerized Freight Index will continue to trend upward in the foreseeable future.
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