- The València Containerised Freight Index (VCFI) – which measures the performance and evolution of the cost of container transport by sea from the Valencian precinct – grew in November for the first time in the last 15 months to reach 1,184.76 points, the first time since August 2022
- An increase of +0.09% is observed and consolidates the general trend (which began in July) towards the stabilisation of transport costs from the Valencian docks with all geographical areas
- This increase in freight rates occurs despite the contraction in demand worldwide caused by the high level of inflation and the rise in interest rates, factors that have slowed consumer spending and, as a result, there is less freight traffic by sea
- The Western Mediterranean sub-index shows an increase of 3.41% while the Far East sub-index has increased by 43.08%
València, 11 December 2023.- Export freight rates from the Port of València are growing again and in the last month recorded an increase of +0.09%, -the first increase since August 2022-. This is reflected in the València Containerised Freight Index (VCFI) – which measures the trend and evolution of the freight rates of the Valencian enclosure – and which in the month of November stands at 1,184.76 points – remaining at similar levels to those recorded during the year 2020. The VCFI accumulates a growth since the beginning of the historical series in January 2018 of 18.48%.
The Index also reflects a strong increase in export freights from Valenciaport’s docks to the Far East area, which in recent months showed signs of stabilisation, registering more attenuated decreases, and which in the eleventh month of the year has risen by +43.08%. Likewise, the index for the Africa West Coast area also grew by +16.48%, that for Africa East Coast by +7.19% and the Western Mediterranean sub-index: +3.41%.
This evolution of freight from the Port of València corresponds to the general trend of the main reference indices (which have a more global component and respond more immediately to market dynamics) such as the Shanghai Containerized Freight Index (SCFI).
VCFI Western Mediterranean
As far as the Western Mediterranean sub-index is concerned, November saw a further increase of +3.41% over the previous month, making it the third consecutive month of increase. It has thus already reached 11,548.44 points, representing an accumulated growth of 54.84% since the beginning of the series in 2018.
As far as Valenciaport is concerned, an increase in the volume of exports to Morocco of +2% has been observed with respect to the previous month. Similarly, exports to Tunisia have increased by +34% and, as for Algeria, these continue to be minimal due to geopolitical problems, even decreasing with respect to the previous month.
VCFI Far East
As for the Far East area, a significant increase of +43.08% has been recorded, reaching 1,213.42 points, representing a cumulative growth of 21.34% since the beginning of the series in January 2018. In this sense, export levels from Valenciaport to China, which is the main trading partner, have increased by +24% according to the latest available data and with respect to the previous month. If you wish to read the full report, you can consult this link