China's weekly export container shipping index dips

SHANGHAI -- China's index of export container transport registered a dip in the past week ending Friday, according to the Shanghai Shipping Exchange.

The average China Containerized Freight Index (CCFI) stood at 2,059.52, down 0.6 percent from a week earlier, according to the exchange.

The sub-reading for the South America service led the drop with a week-on-week decline of 8.3 percent, followed by that for the West East Africa service, which went down 8 percent from the previous week.

The CCFI tracks spot and contractual freight rates from Chinese container ports for 12 shipping routes across the globe, based on data from 22 international carriers.

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