China Container Shipping Prices Surge

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China’s export container shipping prices saw a significant increase in May 2024, with the China Containerized Freight Index (CCFI) rising by 14.3 percent month on month, as reported by the Shanghai Shipping Exchange.

Significant Increases in Specific Routes

The CCFI, which averages spot and contractual freight rates from Chinese ports across 12 global routes, recorded the highest growth in the West Africa service, with a 53.3 percent increase. This was closely followed by the South America service at 50.6 percent and the South Africa service at 29.6 percent. These substantial rises indicate robust demand and dynamic market conditions for shipping from China to these regions.

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Source: Xinhua

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