Busan’s container export market continued to slide last week, with the KOBC Container Composite Index (KCCI) falling 6.79% to 1,785 points, according to the Japan International Freight Forwarders Association (JIFFA). This marks the second consecutive week of decline, reflecting weak demand across most global trade lanes.
Sharp Declines on U.S. and European Routes
Rates on major long-haul routes fell significantly. The U.S. West Coast dropped 12.06% to US$2,019 per FEU, while the U.S. East Coast slid 7.04% to US$3,308 per FEU. In Europe, spot rates tumbled, with North Europe down 10.07% to US$2,126 per FEU and the Mediterranean declining 10.44% to US$2,427 per FEU. West Africa also slipped 2.6% to US$3,927, while Latin America’s west coast plunged 14.05% to US$2,429.
Modest Gains in Select Markets
Not all regions saw losses. Australia rose 1.64% to US$2,537 per FEU, while Southern Africa edged up 1.07% to US$3,979 per FEU. The Middle East showed relative stability, easing only 0.39%, and intra-Asia trades stayed mostly flat, with Japan and China unchanged. However, Southeast Asia dipped 1.79% to US$880 per FEU, reflecting uneven performance in regional markets.
The continued fall in the KCCI underscores the fragile state of the global container shipping market, with most trade lanes struggling under weak demand. While a few regions like Australia and Southern Africa showed resilience, steep declines in U.S., European, and Latin American routes drove the index lower. Unless demand recovers soon, Busan’s container export market may face further downward pressure in the weeks ahead.
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Source: CONTAINER NEWS
