China's export container shipping index edges up in August

BEIJING - China's index of export container transport saw an overall increase in August due to a favorable supply-demand relationship, according to the Shanghai Shipping Exchange (SSE).

The average China Containerized Freight Index (CCFI) jumped 1.2 percent month-on-month to stand at 826.6 points last month, the SSE said in a statement.

In the first eight months of 2019, the index averaged 826.42, up from 817.8 points for 2018.

The freight rates of most routes were raised, buoying the container transport market last month.

In August, the Australia/New Zealand route and Mediterranean route saw their sub-indexes soar by 9.1 percent and 6.5 percent, respectively.

Bucking the upward trend, the sub-index for the Persian Gulf/Red Sea route dropped the most by 6.8 percent.

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.