9 April 2018
China Sourcing Update: Transportation Cost (Mar 2018)
China Containerized Freight Index drops in March
The China Containerized Freight Index (CCFI) went down from a six-month high of 848.32 on 23 February to 769.67 on 30 March.
The decline in freight rates in the month was caused by a seasonal fall in the market demand for containerized freight services after the Chinese New Year, despite the fact that a number of carriers reduced their active capacity in the month.
According to the latest media reports, the market demand for containerized freight services has slowly recovered lately. That being said, we expect the China Containerized Freight Index to stay low in the foreseeable future due to a recent increase incapacity of carriers.
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