China's coastal bulk freight index down 7.4% MoM in Feb

Source:China Sport ShowRelease time:18-Mar-2024Clicks:

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The coastal bulk freight index in China dropped by 7.4 per cent month on month (MoM) in February this year, according to data from the Shanghai Shipping Exchange (SSE).

The composite index for coastal bulk freight, which measures transportation costs in the coastal shipping market, stood at 961.66 last month.

The sub-index for crude oil increased by 0.1 per cent from the previous month, while the figure for refined oil dipped by 0.9 per cent monthly, a state-controlled media outlet reported.

The export container shipping price index in the country increased by 20.9 per cent MoM in February.

The average China containerised freight index (CCFI) stood at 1,440.74 last month.

The sub-reading for the West Coast America service recorded the largest increase, with a MoM growth of 33.8 per cent, followed by that for the Europe service.

The sub-reading for the Persian Gulf/Red Sea service, however, dropped by 1.8 per cent from the previous month.