In January 2024, China’s export container shipping prices experienced a substantial surge, as reported by the Shanghai Shipping Exchange. The China Containerized Freight Index (CCFI) rose by 36.2 per cent month-on-month, reaching an average of 1,191.91. This surge reflects significant shifts in global trade dynamics and shipping demand.
The Sharp Rise in Shipping Rates
The month-on-month increase in China’s export container shipping prices was particularly pronounced, with the Europe service witnessing a staggering 74.3 per cent growth. This surge underscores the immense pressure on global shipping networks and highlights the challenges faced by exporters and importers amidst evolving market conditions.
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Source: English News
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