- This is reflected in the València Containerised Freight Index (VCFI) – which measures the behaviour and evolution of the cost of container transport by sea from the Valencian precinct – which stood at 1,300.19 points in July. It therefore remains at similar levels to the last quarter of 2020
- The downward trend in Far East freight rates continues, falling by -18.92% in the last month
- On the other hand, rates increase in the Atlantic Europe area by 24.11% and also with the Baltic States which increase by 19.86%
- Maritime transport continues to contract in 2023 – a reflection of what is happening in international trade – a situation observed in the main European container ports
- The Western Mediterranean area stabilises its fall with -0.64% although the volume of exports from the Port of València to Morocco has increased
València, 4 August 2023.- For yet another month, the cost of sea transport from the Port of València remains at the levels of the last quarter of 2020. This is reflected in the València Containerised Freight Index (VCFI) – which measures the trend and evolution of freight rates in the Valencian precinct – which stood at 1,300.19 points in July, showing a drop of -7.36% with respect to the general index of the previous month. The VCFI accumulates a growth since the beginning of the historical series in January 2018 of 30.02%.
The decline in export freight from Valenciaport’s docks to the Far East area also continues, which, although showing signs of stabilisation, continues to register a drop in July of -18.92% compared to the -33.07% recorded in June of this year. In the same line, the València Containerised Freight Index shows a moderate fall in the index with the Middle East (-11.61%) and also with the Western Mediterranean (-0.64%) but significant in the areas of Latin America Atlantic (-23.48%). On the other hand, the indices in the Atlantic Europe area increased by 24.11% and also with the Baltic countries, which increased by 19.86%.
In this sense, the slow economic recovery at international level – growth weighed down by high inflation and indebtedness – continues to condition the behaviour of world trade, which continues to fall, and at the same time, transport prices are also decreasing. This decline in trade levels can be seen in the contraction in traffic experienced, among others, by the main European container ports: the Port of Rotterdam, Hamburg, Antwerp and València.
VCFI Western Mediterranean
As regards the Western Mediterranean sub-index, a downward oscillation has again been observed decreasing by -0.64%, reaching 1,633.34 points, representing a cumulative growth of 63.33% since the beginning of the series in 2018. This trend reflects a stabilisation in the performance of the sub-index in the Western Mediterranean region.
However, as far as Valenciaport is concerned, an increase in the volume of foreign sales to Morocco, a prominent trading partner in the area, has been observed. In contrast, exports to Tunisia have contracted and, as far as Algeria is concerned, they continue to be minimal.
VCFI Far East
As for the Far East area, a more moderate drop has been recorded compared to June, -18.92%, reaching 949.47 points. This represents a decrease of -5.05% since the beginning of the series in January 2018.
However, at the same time, export levels from Valenciaport to China, which is the main trading partner, have experienced upward fluctuations according to the latest available data.
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