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[sludgehound]

China & container shipping indication CCFI

There isn't much Chinese authorities can do to crank up this troubling economic indicator
by Wolf Richter on Jun 8, 2015, 4:50 PM

One thing the Chinese authorities cannot do is crank up the global economy and demand for Chinese goods. These goods are shipped by container to the rest of the world. But containerized freight rates from China have totally collapsed.
The China Containerized Freight Index (CCFI), operated by the Shanghai Shipping Exchange and sponsored by the Chinese Ministry of Communications, has not been put through the beautification wringer that other more publicly visible statistics, such as GDP growth, are subject to. It tracks spot and contractual rates for all Chinese container ports. And it plunged 3.2% this week to a multi-year low of 862, down 20% from February.
The trajectory of this terrible 3-month plunge:

http://www.businessinsider.com/containerized-freight-rates-from-china-have-totally-collapsed-2015-6?utm_content=&utm_medium=email&utm_source=alerts&nr_email_referer=1