The KOBC Container Composite Index (KCCI) rose to 1,698 points on Monday, up 0.35% from Sept. 29, according to the Korea Ocean Business Corp. (KOBC) and Japan International Freight Forwarders Association (JIFFA). The index turned upward after three consecutive declines.
On east-west routes, rates climbed 8.92% to $2,040/FEU to the U.S. West Coast, 1.21% to $2,925/FEU to the U.S. East Coast, and 1.98% to $1,955/FEU to Europe, while slipping 1.63% to $2,232/FEU to the Mediterranean.
For north-south trades, spot rates increased 0.48% to $2,529/FEU to Australia and 7.26% to $2,334/FEU to the west coast of Latin America. However, they fell 3.93% to $3,007/FEU to the east coast of Latin America, 5.37% to $3,735/FEU to Southern Africa, and 7.34% to $3,575/FEU to West Africa.
In intra-Asia trades, rates dropped 2% to $49/FEU to China, 3.23% to $210/FEU to Japan, and 5.02% to $833/FEU to Southeast Asia.
KOBC releases the KCCI to track spot container freight rates from Busan to U.S., Europe, and 11 other major regions. The composite index is a weighted average of 13 route-specific indices, incorporating terminal handling and other surcharges.
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