China's index of export container transport down 6% MoM in April

The drop was led by the sub-reading for the Persian Gulf/Red Sea service that dropped by 15.8 per cent month on month in April, followed by the sub-reading of the South America service which decreased by 14.3 per cent compared to the previous month, said Chinese media reports quoting the data shared by the Shanghai Shipping Exchange.

Japan service’s sub-reading witnessed an increase of 6.3 per cent in April, compared to March.

The index tracks contractual and spot freight rates for 12 international shipping routes from Chinese container ports. It is based on data from twenty-two international carriers. It was set at 1,000 in 1998.

Fibre2Fashion News Desk (KD)