China’s Container Freight Rates See Historic Drop

Capt. John
  • CCFI falls to 1,112 as spot rates hit record lows.
  • SCFI drops 46%, the biggest Q1 fall since 2009.
  • Europe and Med rates decline over 30%.

According to BIMCO, Average container freight rates for Chinese exports have fallen 28% since the start of the year, marking the worst first-quarter decline in twenty years, reports Marine Link.

CCFI Mirrors Steep Decline

The China Containerized Freight Index (CCFI), derived from 23 liner operators’ data, fell from 1,548 at the beginning of the year to 1,112...

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