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China’s export container transport gains steam in July

Updated: Aug 12,2018 6:55 AM     Xinhua

BEIJING — With steady export growth in China, container transport for export purposes gained momentum in July, according to data from the Shanghai Shipping Exchange.

The average China Export Containerized Freight Index stood at 820.31 points in July, up 2.1 percent from a month earlier.

“Affected by the peak season, China’s export container transportation market continued to see an upward trend, with a rise in overall transportation demand,” said a statement from the exchange.

Since the beginning of this year, the index averaged 798.99 points, down from an average of 820.47 points last year.

In July, the subindex for the South America route surged by 18.5 percent from a month earlier, the most among all routes mainly due to relatively high cargo demand and freight price decline in June, the statement said.

The subindex for European routes also rose last month, as the region’s transport demand was sustained by its economic recovery.

The China Export Containerized Freight Index was first released by the exchange on April 13, 1998 as a barometer of the shipping market.

China’s export rose 6 percent year on year in July and 5 percent in the first seven months of this year.