China's export container shipping index drops in April

BEIJING - China's container transport for export purposes continued to contract last month due to weak demand during low seasons, according to a report released by the Shanghai Shipping Exchange.

The average China Containerized Freight Index (CCFI) came in at 799.65 in April, down 3.8 percent from the previous month.

The pace eased from the 6.3 percent decrease registered in March, the exchange said.

In the first four months of 2019, the index averaged 839.88, picking up from an average of 817.8 for 2018.

The sub-indexes for most routes went down in April, with that for South Africa registering the largest decline of 9 percent from a month earlier.

The Europe route and Mediterranean route saw their sub-indexes fall 8.4 percent and 7.4 percent in April, respectively.

The CCFI tracks spot and contractual freight rates from Chinese container ports for 12 shipping routes across the globe, based on data from 20 international carriers.

The index was set at 1,000 on Jan 1, 1998.