Comparison of Representative Ocean Freight Index Characteristics

 1. SCFI Vs. CCFI

 

 SCFI is a freight rate index that reflects the spot rates of 15 routes in the Shanghai export container transport market compiled by the Shanghai Shipping Exchange (SSE).

 

 CCFI is a container freight rate index from China administered by the Ministry of Transportation of China and compiled by the Shanghai Port Exchange.

 

 In other words, you can understand SCFI as an index representing ‘short-term freight rates’ and CCFI as ‘short-term freight rates’ + ‘long-term contract freight rates’.

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Looking at the graph above, it can be seen that the increase in SCFI during the period of skyrocketing freight rates (20-21 years) is much greater than the increase in CCFI. In the same vein, the drop in SCFI during the current drop in freight rates (from June 2022) is much larger than the drop in CCFI.

 Looking at the main points, compared to the SCFI peak (5,109.60), as of December 9 (1,138.09), it fell -77.7%. On the other hand, CCFI declined by -60.7% from the peak (3,587.91) as of December 9 (1,410.11). Looking at mid- to long-term rates, we can clearly see that the decline is 17% smaller than spot rates.

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 2.     XSI Vs. SCFI

 It is an index announced based on FEU for all routes as XENETA SHIPPING INDEX. It provides a comprehensive index and fares for each of 12 routes, and its main feature is the data collected from actual fares through the platform.

 

The graph below is a graph comparing XSI and SCFI based on Asia-North America West Coast.

Compared to SCFI freight rates, it can be confirmed that there are more movements of XSI and that ocean freight rates are reflected in real-time.

 

In other words, comprehensively speaking, looking only at spot rates, the value of effectiveness is in the order of XSI>SCFI>CCFI, and when looking at long-term contract rates, it is recommended to use them in the order of CCFI>SCFI>XSI.

 

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