China’s export container shipping price index increased by 14.3 percent month on month in May 2024, data from the Shanghai Shipping Exchange showed.
The average China Containerized Freight Index (CCFI) stood at 1,358.71 last month, according to the shipping exchange.
The sub-reading for the West Africa service recorded the largest increase, with month-on-month growth of 53.3 percent.
It was followed by the South America service and the South Africa service, which jumped 50.6 percent and 29.6 percent, respectively, on a month-on-month basis.
The CCFI tracks spot and contractual freight rates from Chinese container ports on 12 shipping routes across the globe, based on data from 22 international carriers.