The KOBC Container Composite Index (KCCI) has recently fallen, indicating a weakening trend in spot rates for container exports from Busan, South Korea. This decline is part of a broader trend in the global shipping industry.
Index Performance and Main Lanes
According to data from the Korea Ocean Business Corp. (KOBC), the KCCI slipped by 3.67% to 1,993 points on Monday. This drop was primarily driven by falling spot rates on major trade lanes. For example, rates to the U.S. West Coast declined by 6.16% to $1,904 per FEU (Forty-foot Equivalent Unit), while rates to the U.S. East Coast fell by 7.01% to $2,996 per FEU. Similarly, routes to Europe and the Mediterranean also saw declines of over 5%.
Non-Main and Intra-Asia Trades
While the main trade lanes experienced a downturn, some non-main routes saw increases. Rates to the west coast of Latin America, Southern Africa, and Australia all posted gains, with increases of 5.42%, 2.78%, and 2.92%, respectively. In contrast, other non-main routes, such as those to the Middle East, the east coast of Latin America, and West Africa, saw declines. Within intra-Asia trades, rates to Japan saw a slight increase, while rates to China remained flat and those to Southeast Asia slipped.
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Source: Container News
