According to Japan International Freight Forwarders Association (JIFFA), Busan’s container export market kept sliding last week. The KOBC Container Composite Index (KCCI) dropped 6.79% to 1,785 points, data from Korea Ocean Business Corp. (KOBC) shows. This is the second week of decline.
Most trade lanes weakened. Rates to the U.S. West Coast fell 12.06% to US$2,019 per FEU. The U.S. East Coast dropped 7.04% to US$3,308. Europe fell 10.07% to US$2,126, and the Mediterranean slipped 10.44% to US$2,427.
Some lanes gained. Australia rose 1.64% to US$2,537 per FEU. Southern Africa inched up 1.07% to US$3,979.
Other routes saw losses. Rates to the Middle East eased 0.39%. Latin America’s east coast fell 3.68%, its west coast plunged 14.05% to US$2,429. West Africa slid 2.6% to US$3,927.
Intra-Asia trades stayed flat to Japan and China. Southeast Asia fell 1.79% to US$880 per FEU.
The KCCI is a weighted average of spot rates on 13 trades from Busan, including terminal handling charges.
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