China’s weekly export container shipping index down

China’s index of export container transport declined in the week ending on March 31, according to the Shanghai Shipping Exchange.

The average China Containerized Freight Index (CCFI) went down 1.9 percent to 958.43 from the previous week, according to the exchange.

The sub-index for the Japan service led the decrease with a week-on-week drop of 8.1 percent.

Bucking the trend, the sub-reading for the Persian Gulf/Red Sea service rose 5.9 percent from a week earlier.

The CCFI tracks spot and contractual freight rates from Chinese container ports for 12 shipping routes across the globe, based on data from 22 international carriers.

The index was set at 1,000 on Jan. 1, 1998.
Source: Xinhua