China's export container shipping index drops in October

BEIJING - China's container transport for export purposes saw an overall decrease in October, according to the Shanghai Shipping Exchange (SSE).

The average China Containerized Freight Index (CCFI) fell 4.6 percent month-on-month to stand at 784.22 points last month, said the SSE.

In the first 10 months of 2019, the index averaged 822.78, up from 817.8 points for 2018.

In October, the sub-index for the Persian Gulf/Red Sea and Mediterranean routes plunged by 12.5 percent and 11.2 percent, respectively.

Bucking the upward trend, the Australia/New Zealand and South Africa routes saw their sub-index rise by 6.4 percent and 5.4 percent, respectively.

The CCFI tracks spot and contractual freight rates from Chinese container ports for 12 shipping routes across the globe, based on data from 20 international carriers.

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