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China Sourcing Update: Transportation Cost (Oct 2017)

China Containerized Freight Index goes down in October

The China Containerized Freight Index (CCFI) dropped from 803.25 on 29 September to 772.27 on 20 October, before picking up to 775.54 on 27 October (see exhibit 1).

According to the local media, a number of carriers lowered their freight rates in the month in order to maintain their market shares, as the market demand for containerized freight services for major routes, including those in Europe, Mediterranean Sea and the North America, slowed.

Looking ahead, we expect that the China Containerized Freight Index will rebound in the foreseeable future, as the demand for containerized freight services has recovered since late October.

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Content provided by Fung Business Intelligence
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