KCCI down as Ex-Busan rates continue to slide

The KOBC Container Composite Index (KCCI) fell 2.66% week-on-week to 1,940 points on Monday, according to Korea Ocean Business Corp. (KOBC). Spot container rates from Busan declined across most major lanes, with the U.S. West Coast at $1,849/FEU (-2.89%), U.S. East Coast at $2,899/FEU (-3.24%), Europe at $2,969/FEU (-4.53%), and the Mediterranean at $3,012/FEU (-3.46%).

On secondary routes, rates rose 4.43% to Australia and 1.87% to Southern Africa, but dropped 2.66% to the Middle East, 7.21% to the east coast of Latin America, 0.03% to the west coast of Latin America, and 3.3% to West Africa. Intra-Asia movements stayed stable at $50/FEU to China, but slipped 0.9% to Japan and 0.62% to Southeast Asia.

According to the Japan International Freight Forwarders Association (JIFFA), the continuing decline highlights weak global demand and mounting competitive pressure on Asian exports.

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