China's weekly export container shipping index drops

BEIJING - China's index of export container transport dipped for the week ending Friday, according to the Shanghai Shipping Exchange.

The average China Containerized Freight Index (CCFI) stood at 783.15, down 3.1 percent from a week earlier, according to the exchange.

The sub-index for South Africa service led the increase with a week-on-week growth of 5 percent, followed by those for the Southeast Asia and Australia/New Zealand routes, which rose 4.7 percent and 2.4 percent, respectively, from last week.

The sub-index for Persian Gulf/Red Sea service led the decline by a 7.6-percent slip from the previous week. The sub-readings for the South America service and west coast America route fell 6.4 percent and 4.9 percent, respectively.

The CCFI tracks spot and contractual freight rates from Chinese container ports for 14 shipping routes across the globe, based on data from 22 international carriers.

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